Summer Sales Up: Feeds Growth Expectations

Retail Sales Going Up
Retail Sales Going Up

The US Department of Commerce announced an increase in retail sales by 0.6 percent in August, based on increased car sales and a wide range of other goods. July showed a 0.3 percent rise sales as well.

These figures, combined with an improved measure of consumer confidence, which reached a 14-month high in September, are allaying fears about the US economy, helping to spur further growth.

“It is further indication that the underlying positive momentum in the US economy is being sustained,” said Millan Mulraine, deputy chief economist at TD Securities.

The consumer sentiment index of the Thomson Reuters/University of Michigan, reached 84.6 in the early days of September, which was the highest number sinc3e July 2013. In August the index was at 82.5.

Amelia Jacobs

About Amelia Jacobs

Amelia Jacobs began her career in business following a surprisingly successful trip to China. Having visited the region as a tourist, she returned to America as an import-exporter. Today, Jacobs runs a thriving import-export company, splitting her time between Chicago and Shanghai. Contact Amelia at amelia[at]businessdistrict.com