【Retail sales rise more than expected in August】

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Retail sales rise more than expected in August; sales excluding autos up 1.1 percent
On Tuesday September 15, 2009, 8:38 am EDT
      
WASHINGTON (AP) -- Retail sales jumped in August, spurred by widespread gains beyond the increases of autos and gasoline that economists expected.


AP - In this photo made Monday, Aug. 11, 2009, a shopper moves through the aisles at Kohl's department store ...
The report is a sign that consumers may be less cautious about spending as the economy recovers.

The Commerce Department says retail sales rose a seasonally adjusted 2.7 percent last month, after falling 0.2 percent in July. That beat analysts' expectations of a 2 percent increase, according to a survey by Thomson Reuters.

Excluding autos, sales rose 1.1 percent, ahead of an expected 0.4 percent jump. Excluding autos and gas, sales rose 0.6 percent.

Sales rose at auto dealers due mainly to government's popular Cash for Clunkers program and at gas stations. Electronics and appliance stores, department stores, and sporting goods stores also posted gains.

Also, the government says inflation at the wholesale level shot up at double the expected rate in August as gasoline prices soared by the largest amount in a decade.

The increase wasn't seen as a signal that inflation was in danger of becoming a problem, however, given the economy's continued weakness.

The Labor Department says that wholesale prices rose by 1.7 percent in August, sharply higher than the 0.8 percent rise economists had forecast. Wholesale prices had fallen by 0.9 percent in July.

Both months were heavily impacted by energy prices.

Excluding volatile energy and food costs, core inflation posted a more modest 0.2 percent increase, close to the 0.1 percent advance economists had expected

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Stock futures rise after upbeat retail sales data
Stock futures gain momentum after better-than-expected monthly retail sales report
By Stephen Bernard, AP Business Writer
On Tuesday September 15, 2009, 8:41 am EDT
      
NEW YORK (AP) -- Stock futures are rising after a report shows retail sales were better than expected in August.

The Commerce Department says retail sales rose 2.7 percent last month, better than the 2 percent jump expected by economists.

Excluding auto sales, which were boosted by the Cash for Clunkers program, retail sales rose 1.1 percent, better than the 0.4 percent increase expected.

Separately, the Labor Department says prices at the wholesale level rose 1.7 percent in August, compared with expectations for a jump of 0.8 percent.

Dow Jones industrial average futures are up 32, or 0.3 percent, at 9,643. Standard & Poor's 500 index futures are up 4.60, or 0.4 percent, at 1,048.10, while Nasdaq 100 index futures are up 6.25, or 0.4 percent, at 1,694.25.