August Retails Sales A Bust
While August retail sales rose 0.2% after "a soft July," that number is below projections, indicating a still-suffering Obama economy.
"Retail sales disappointed in August, especially outside of auto dealers," Moody's Analytics economist Scott Hoyt said in an e-mail. "The disappointment was partially offset by upward revisions to July sales, but still suggests consumers are growing their spending only modestly because of weak labor markets and income growth.''
It's unclear what, if any, impact the numbers may have on policy makers as they meet next week amid speculation that the Federal Reserve may start tightening the money supply.