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 3. US Data Response
 4. Retail Sales (Aug.)


RETAIL SALES (AUG.)




Andrew Hunter

Senior US Economist

15th September 2022

The stagnation in underlying retail sales in August suggests that plunging
gasoline prices are not providing any significant boost to real consumption. But
that could change over the coming months as consumer confidence recovers and,
for now, the data are still consistent with a rebound in GDP in the third
quarter.


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