Sales at U.S. retailers probably rose in August for a second consecutive month, easing concern the economy will stumble in the second half of the year, economists said before a report today.
Purchases climbed 0.3 percent following a 0.4 percent gain in July, according to the median estimate of 76 economists surveyed by Bloomberg News. Excluding auto dealers, sales advanced by the most in four months, the report may also show.
Demand at chains like Kohl’s Corp. and Ross Stores Inc. climbed as more states had tax-free holidays and some merchants offered bigger discounts to lure back-to-school shoppers. A lack of jobs and the need to repair household finances will probably limit consumer spending, which accounts for about 70 percent of the economy, for the rest of the year.
Full story: Retail Sales in U.S. Probably Rose in August for Second Month – Bloomberg