You have reached your limit of free articles this month.

Enjoy unlimited access to SpringfieldNewsSun.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and interactive features. Starting at just 99c for 8 weeks.

X

Welcome to SpringfieldNewsSun.com

Your source for Clark and Champaign counties’ hometown news. All readers have free access to a limited number of stories every month.

If you are a News-Sun subscriber, please take a moment to login for unlimited access.

breaking news

Woman shot in home invasion has died

US retail sales rise 0.2 percent in August


WASHINGTON (AP) — Americans bought more cars, furniture and electronics in August, but held back on most other retail purchases.

The Commerce Department says spending at retail businesses rose 0.2 percent last month, the smallest gain in four months. Excluding volatile spending on autos, gas and building supplies, sales increased just 0.2 percent, or less than half July’s 0.5 percent gain.

The modest retail sales gain suggests consumers may be growing more cautious about spending, which could slow economic growth in the July-September quarter. Retail sales are closely watched because they’re the government’s first look at consumer spending, which accounts for 70 percent of economic activity.

Sales of autos and furniture both jumped 0.9 percent. Electronics and appliance sales rose 0.8 percent. But clothing sales dropped 0.8 percent and sporting goods sales also fell.

Last week automakers reported that their sales in August topped 16 million at an annual pace for the first time since November 2007, just before the recession began. Toyota, Ford, Nissan, Honda, Chrysler and General Motors all posted double-digit gains over last August.

But many retailers have said in recent weeks that shoppers have been reluctant to spend freely for back-to-school shopping. According to a tally of 10 retail chains by the International Council of Shopping Centers, sales rose 3.6 percent last month. That’s down from a 6 percent gain for in August 2012.

Job gains have been steady this year. But the pace of hiring has been too weak to rapidly lower the unemployment rate, which is 7.3 percent four years after the Great Recession officially ended.

Americans are also seeing little growth in their wages. At the same time, they are grappling with higher taxes this year. The combination has limited their spending power and kept the economy from accelerating.


Reader Comments ...


Next Up in Business

$7.5M Love’s Travel Stop set to open in Clark County in January
$7.5M Love’s Travel Stop set to open in Clark County in January
Funding denied for Dayton’s Entrepreneurs Center
Funding denied for Dayton’s Entrepreneurs Center
Former DDN publisher, Cox exec named CEO of Boston Globe Media
Former DDN publisher, Cox exec named CEO of Boston Globe Media
Flashback: When John Glenn dotted the ‘i’ in Script Ohio at Ohio State
Flashback: When John Glenn dotted the ‘i’ in Script Ohio at Ohio State
Native advertising: what it is and what to know
Have you ever been drawn to an article’s headline only to discover it’s an advertisement?Often called sponsored content, native advertisements can be found in print materials, such as magazines and newspapers and are created to resemble the design, style and functionality of news or feature articles, product reviews, entertainment and other material that surrounds it.
More Stories