U.S. retail sales likely to have grown 0.3 pct in August

U.S. retail sales data for the month of August is set to release tomorrow. According to a TD Economics research report, retail sales are likely to have risen 0.3 percent, a slowdown from 0.7 percent recorded in the prior month. The key control group is likely to have recorded a growth of 0.4 percent sequentially.

A stable rise in core sales and a small recovery in auto purchases should more than counter a fall in sales at gasoline stations, which shows a marked fall in gasoline prices in August, added TD Economics.