Washington - CE and appliance dealers eked out a 1.5 percent
sales gain in August for a total take of $8.5 billion, according to preliminary
estimates by the U.S. Commerce Department.
Sales rose a more modest 0.5 percent from July.
The monthly figures, which are compiled by the U.S. Census
Bureau, were adjusted for seasonal variations and holiday and trading-day
differences, but not for price changes.
In comparison, total retail sales excluding restaurants and
car dealers and auto parts stores rose 7.5 percent in August and 0.1 percent
spending in August was tempered by a continued lack of confidence in the
strength of our economy," observed Matthew Shay, president/CEO of the National
Retail Federation (NRF), a retail trade group. "Having carried the brunt of the
economic recovery so far, consumers may be waiting for good news in terms of
employment and market stability, cautiously spending on things they need and
thinking twice about things they want."
chief economist Jack Kleinhenz, "August retail sales [month over month] mirror
August employment figures - zero growth. Consumer spending has stalled, and it
will be important for consumers to see positive changes in the economic outlook
going into the fourth quarter. While we're not expecting a complete pull back
in spending, the outlook remains modest in terms of growth."
Washington - CE and appliance dealers eked out a 1.5 percent sales gain in August for a total take of $8.5 billion, according to preliminary estimates by the U.S. Commerce Department.