US retail sales declined in August

Contrary to the expectations of the analysts, who forecasted a modest growth, US retail sales declined in August.

The US Department of Commerce announced on Friday that seasonally adjusted retail prices decreased by 0.2 percent in August, compared to the monthly increase of 0.3 percent in July. Analysts estimated a 0.1 percent increase in retail sales in August. Last time the US retail sales declined by 0.2 percent in monthly comparison in February this year.

The fall in August is due, among other things, to the decline in the sales of vehicles, electronics and clothing. (MTI)