Surprise Retail Sales Spike In August

Retail sales jumped 2.7% in August vs. expectations of 2.00. It’s just the latest sign that the consumer is slowly creeping back to life, and the futures are up modestly after having been down earlier.

Much of the gain was due to Cash-for-Clunkers, but even without that there’s good news. Ex-Autos, retail sales were up 1.1%, ahead of .4% expectations — that’s the number you should probably be focusing on.

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