Retail sales in the United States grew faster than expected

Retail and hospitality sales in the United States expanded at a higher rate than expected for the sixth consecutive month, indicating that the steadily rising consumer spending is likely to continue to support the moderate growth in the economy.

The US Department of Commerce announced on Thursday that the seasonally and calendar-adjusted retail sales and hospitality sales were 526.1 billion USD in August, 0.4 percent higher, compared to the previous month. Analysts expected a 0.2 percent increase after the 0.7 percent of July. (MTI)