US Retail Sales Climb, Canadian Inflation Slows More Than Expected
US retail spending climbed last month, suggesting that underlying consumer demand continues to play a supportive role in powering growth – but gains were somewhat mixed below the headline level, suggesting that Federal Reserve officials are likely to downplay its accuracy in depicting underlying fundamentals ahead of tomorrow’s decision. According to figures published by the Census Bureau this morning, so-called “control group” retail sales sales – with gasoline, cars, food services, and building materials excluded – rose 0.3 percent in August, matching forecasts set at 0.3 percent. Total receipts at retail stores, online sellers and restaurants rose 0.1 percent on...