Advance August retail sales data are out.
Total sales rose only 0.2% in August, below consensus expectations for a 0.5% gain. However, July sales growth was revised up to 0.4% from 0.2%.
Sales excluding automobiles rose 0.1%, below estimates for a 0.3% advance. July sales growth excluding autos was revised up to 0.6% from 0.5%.
Excluding autos and gas, sales rose 0.1%. Economists predicted a 0.3% gain. July sales growth excluding autos and gas was revised up to 0.6% from 0.4%.
The retail sales control group, which goes into the calculation of GDP, rose 0.2%, below expectations for a 0.3% advance. In July, the control group rose 0.5%.
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