US retail sales inch higher in August; points to near-trend Q3 consumption growth

Summary: US retail sales up 0.1% in August, contrasts with expected decline; annual growth rate slows to 2.1%; Westpac: recent data points to near-trend growth in Q3 goods consumption; US Treasury yields up; rate-cut expectations soften slightly; Westpac: GDP component of sales up 0.3% in August, up 0.4% in July; higher sales in five of thirteen categories; online sales largest single influence on month’s result. US retail sales had been...

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