Reuters
U.S. retail sales unexpectedly rise in August; weekly jobless claims fall
WASHINGTON (Reuters) -U.S. retail sales unexpectedly rebounded in August as Americans ramped up purchases of motor vehicles and dined out more amid lower gasoline prices, but demand for goods is cooling as the Federal Reserve aggressively raises interest rates. Consumer spending, however, is likely to remain supported by persistent strength in the labor market, with other data on Thursday showing the number of people filing new claims for unemployment benefits last week fell to the lowest level in more than three months. Labor market resilience together with a surprise increase in consumer prices in August is likely to give the U.S. central bank ammunition to deliver a third consecutive 75-basis-point interest rate hike next Wednesday.
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