Reported about 4 hours ago
US retail sales surged unexpectedly in August, driven by consumer spending despite worries about a weakening labor market and rising prices due to tariffs. The Commerce Department reported a 0.6% increase in sales, marking the third consecutive month of growth, although factors like elevated import costs and labor market uncertainties may impact future spending trends. Economists remain cautious as consumer prices rose significantly, and expectations for the Federal Reserve's interest rate decision loom amid these economic challenges.
Source: YAHOO