Thursday, August 23

Retail sales rise for the first time in four months

Deputy Beth Ann Bovino, S & P Chief Economist breaks CNBC Rick Santelli, the latest figures on retail sales and producer prices.

US retail sales rose in July for the first time in four months as demand and large for all cars rose from to electronics, a sign that consumers could ride faster economic growth in the third quarter.

The Commerce Department said retail sales last month increased, 0.8 per cent on Tuesday.

It was the largest gain since February and well above the expectations of analysts. By Reuters respondents economists had expected retail sales to rise 0.3 percent.

The report reinforces the view that temporary will prove to be the slowing down of economic growth in the second quarter.

It provides some relief for President Barack Obama, which re-elected November offer is been threatened by a weak labour market.

His campaign focused on the weak economy that has plagued Obama of the Presidency Republican challenger Mitt Romney.

The report could also a little water on hopes, that the Federal Reserve soon help to another bond purchase program for the economy start could splash.

Job creation in the United States slowed cooled dramatically in the second quarter as consumer spending and economic growth slows down. Job creation accelerates in July rose 8.3 percent unemployment.

Reference to a sharp rise in the private consumption expenditure in July, the so-called core measure of retail - auto excludes, gasoline and building materials - rose 0.9 percent. That was the largest gain since January.

Last month, sales of motor vehicles and parts rose 0.8 per cent. Receipts in electronics and appliance stores increased 0.9 percent. Sale of construction materials, won 1.0%, while the revenue as gas stations advanced 0.5 percent.

Car sales climbed 0.8 per cent.

Copyright 2011 Thomson Reuters.

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