It helps our economy! Retail sales are a critical component to our economy and the Wall Street Journal just reported this morning that U.S. retail sales rose for a second consecutive month, increasing 0.4% in August from the previous month as shoppers flocked to back-to-school sales and took advantage of tax-free shopping promotions in more than a dozen states.
The jump was driven largely by purchases of clothing, gasoline and groceries. Sales of autos and parts slipped 0.7%. Excluding autos, all other retail sales rose 0.6%.