Retail sales growth dipped slightly in August at 8,7 percent, from July's 9,6 percent, indicating that interest rate hikes have finally started to filter into the market.
Retail sales growth dipped slightly in August at 8,7 percent, from July's 9,6 percent, indicating that interest rate hikes have finally started to filter into the market.
The August retail sales number reflected two of the three half percentage point rate hikes since June with the latest increase in October. Analysts said the slight drop was unlikely to prevent another hike in December to 9 percent.
"Maybe retail sales growth is eventually going to respond to the higher interest environment," said Brait economist Colen Garrow. - Staff reporter with Reuters
retail growth
Retail sales growth dipped slightly in August at 8,7 percent, from July's 9,6 percent, indicating that interest rate hikes have finally started to filter into the market.
Retail sales growth dipped slightly in August at 8,7 percent, from July's 9,6 percent, indicating that interest rate hikes have finally started to filter into the market.
The August retail sales number reflected two of the three half percentage point rate hikes since June with the latest increase in October. Analysts said the slight drop was unlikely to prevent another hike in December to 9 percent.
"Maybe retail sales growth is eventually going to respond to the higher interest environment," said Brait economist Colen Garrow. - Staff reporter with Reuters