Report: Retail sales remain weak in August |
Written by Jeremy Burns | |
Friday, 13 September 2013 04:09 PM America/New_York | |
August saw retail sales increase, but at a considerably slower pace than expected. Overall retail sales (not including automobiles, gas stations and restaurants) increased at a seasonally adjusted rate of 0.1% from July, and increased 3.9% unadjusted year-over-year, according to the National Retail Federation (NRF). “Slow growth continues to be the economic story five years after the financial crisis,” said Matthew Shay, president and CEO of NRF. “The economy, employment, wages and retail sales continue to stagger along. Retailers and consumers are resilient, but not overly optimistic about the broader economy.” |
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