The Commerce Department released a report on Tuesday showing retail sales in the U.S. rose by much more than expected in the month of August.
The report said retail sales climbed by 0.6 percent in August, matching an upwardly revised increase in July. Economists had expected retail sales to inch up by 0.2 percent compared to the 0.5 percent growth originally reported for the previous month.
"Stronger-than-expected retail sales removes some urgency from the Fed's decision tomorrow, but it won't prevent the Fed from easing," said FHN Financial Chief Economist Chris Low. "The job market still needs support and rate-sensitive sectors remain under pressure."
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.