US retail sales rise in August

The U.S. Department of Commerce released August retail sales data. Accordingly, retail sales increased by 0.6 percent last month compared to the previous month, reaching $732 billion. Market expectations were for a 0.2 percent increase in retail sales during this period. Retail sales had also increased by 0.6 percent in July. In August, retail sales in the country increased by 5 percent year-over-year. The largest increases in sales were seen in non-store retailers. Sales also increased in clothing stores, sporting goods, hobby stores, musical instruments, and bookstores, food and beverage outlets, gas stations, and motor vehicle stores. Conversely, sales decreased in various department stores, furniture stores, and health and personal care stores.