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The monthly US retail sales report is due to come out today.
Data from the Commerce Department is forecast to show that retail sales will rise by 0.3% on both the headline and the core.
In August, headline retail sales rose 0.4% while core retail sales were unchanged. Headline retail sales eased to 0.4% after rising 0.8% in July.
The gains in August were only moderate with most of the heavy lifting done by a jump in the auto sales sector. The report in August underlined the fact that consumers were more cautious. Core retail sales, which exclude autos, had remained flat and this was the first time since February this year.
While retail sales declines were expected following the surprise jump in July, the trend seems to be turning further down south. This comes as the US and China trade wars intensifies, leading to declining exports. Amid the scenario, the onus falls on consumer spending to drive retail sales higher.
Furthermore, online sales continue to e...
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