Retail Sales Rise
Retail sales in the U.S. jumped in August, according to two metrics both released Tuesday. The Department of Commerce estimated a 2.7 percent rise in retail sales from July, while the National Retail Federation saw a 0.7 percent increase.
The Commerce increase, the largest in three years, was attributed to higher gas prices, busy crowds at malls and the recently concluded Cash For Clunkers program. NRF attributed the gain, its first in six months, to sales tax holidays and back-to-school spending, among other factors.
The numbers are different largely because the NRF number does not include automobiles, gas stations or restaurants.