August Retail Sales Jump 2.7%
Retail sales jumped 2.7% in August, led in part by a boost in auto sales prompted by the government’s “cash for clunkers” program, the Commerce Department said Tuesday.
The gain followed a revised 0.2% decline in July that was double the drop originally reported.
Economists had forecast August sales would rise 1.9%, Bloomberg reported.
Purchases excluding automobiles rose 1.1%, the biggest in six months, while sales at auto and parts stores jumped 11%.
Service stations, clothing, sporting goods and department stores all recorded gains of more than 2%, Bloomberg reported.
Almost all trucking operations depend on the health of retail sales because such sales involve nearly every type of cargo.
