Revisions take shine off strong US August retail report

14 September 2023

 

Summary: US retail sales up 0.6% in August, more than expected; annual growth rate slows to 2.5%; NAB: downward revisions take some shine off initially reported strength; Treasury yields up; 2024 rate-cut expectations soften; higher sales in nine of thirteen retail categories; gasoline station sales largest single influence on month’s result. US retail sales had been trending up since late 2015 but, commencing in late 2018, a series of weak...

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