US Spending Accelerates in August
US retail sales rose 0.6% month-on-month in August, well above the +0.2% forecast and even exceeding the upper end of the consensus range (0%–0.5%). July's data was also revised upward to +0.6% from +0.5%, indicating that consumer spending remained resilient as the quarter drew to a close.
The increases were broad-based: ex-autos +0.7%, ex-autos & gas +0.7%, and the control group +0.7%—components used to calculate GDP/PCE. These figures signal solid consumption momentum, potentially reducing the urgency for more aggressive interest rate cuts.
Source: Newsmaker.id