Advance retail sales fell 0.3% in August, versus the estimate of a 0.2% gain. Ex-autos, which were boosted by heavy incentives and severe discounting, sales were down 0.7%, compared to expectations of a 0.2% decline.
The Producer Price Index fell 0.9% in August, a larger drop than an expected 0.5% decline. The core rate of inflation, which removes food and energy, was up 0.2%, matching estimates. Year-over-year, the headline rate slowed from 9.8% to 9.6%, but the core rate inched up from 3.5% to 3.6%.
Preliminary University of Michigan consumer sentiment rose from 63.0 in August to 73.1 in September, well above the forecast of 64.0.
More from Bloomberg...
