Page 7 - atoday
P. 7
U.S. NEWS A7
Monday 21 September 2015
US Financial Front:
Autos and restaurants push US retail sales higher in August
Shoppers check out the sale at an ALDO store in the Mall 2001. Nearly a fifth of all rants that had suffered in line retailers. Still, retail sales
retail sales tracked by the the wake of the recessions growth has been much
government come from as people watched every more modest. This largely
the auto industry. Sales at dime. Purchases at restau- stems from gasoline be-
dealerships and parts stores rants and bars increased ing dramatically cheaper,
have risen 5.7 percent dur- 0.7 percent in August and causing purchases at ser-
ing the past 12 months, as have soared 8.2 percent vice stations to plummet
many Americans are re- this year. And dining es- 17.2 percent since August
placing their older vehicles. tablishments have added 2014. Consumers have
Auto retailers reported a 0.7 more than 372,000 workers mostly pocketed the sav-
percent increase in August. over the past year to sati- ings, instead of shifting their
The healing job market also ate the newbusinesses. spending elsewhere as gas
has Americans getting out Sales also improved last costs averaged $2.33 a gal-
of their own dining rooms month at grocers, cloth- lon nationwide — a 31.5
more frequently, which has iers, sporting goods stores, percent drop over the past
been a boon for restau- electronics outlets and on- year, according to AAA.q
at Robinson, in Robinson Township, Pa. Americans stepped
up their spending on cars, restaurant meals, groceries and
clothing in August. (AP Photo/Gene J. Puskar)
JOSH BOAK ing goods and electronics,
AP Economics Writer said Jennifer Lee, a senior
WASHINGTON (AP) — economist at BMO Capital
Americans stepped up Markets. “These are areas
their spending on cars, res- that suggest consumers are
taurant meals, groceries ready and willing to splurge
and clothing in August, sug- a little on items outside of
gesting that consumers will the basic necessities.”
help sustain U.S. economic Retail sales have been
growth despite a broader fed this year by solid and
global slowdown. steady job gains. The hiring
The Commerce Depart- — 2.9 million additional jobs
ment said last week that over the past 12 months —
retail sales rose 0.2 percent has translated into a surge
last month, after advanc- of spending at auto deal-
ing 0.7 percent in July. Sales ers and restaurants. The
have increased 2.2 percent U.S. economy has become
over the past 12 months, as increasingly reliant on con-
solid hiring has translated sumer spending to main-
into surges in spending at tain growth as Europe and
auto dealers and dining es- China have struggled to ex-
tablishments. pand at a faster pace.
“There was more spend- Carmakers are on pace to
ing on ‘wants’ last month” top vehicle sales of 17 mil-
such as eating out, sport- lion for the first time since
Illinois:
State fires Lottery manager Northstar
CHICAGO (AP) — The 1, 2017, under a pact dis-
state of Illinois reached an closed by Gov. Bruce Raun-
agreement to terminate er’s general counsel Jason
the contract of Northstar Barclay. The move comes
Lottery Group, the private after a legislative report
company managing the earlier this month revealed
state’s lottery, the gover- the Lottery lost money last
nor’s office said this week- year for the first time since
end. 2009, reducing the amount
A new private manager will of money it generates for
take over day-to-day oper- state programming by $125
ation of the lottery by Jan. million.q
