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ONLN - Retail Spending Rises In August But The Pace Slows
ProShares Online Retail
By Robert Hughes
Retail sales and food-services spending posted another gain in August, rising 0.6 percent from the prior month. However, the gain was below the 1.0 percent consensus expectation and follows a downwardly revised 0.9 percent gain in July (from an initial estimate of a 1.2 percent increase). The August gain was the fourth in a row following two devastating declines in March and April, but was the slowest of the four increases (see bottom of first chart). From a year ago, retail sales are up 2.6 percent (see top of first chart).