US Retail sales up just 0.1%, still beats expectations

Retail sales in the US increased just 0.05% on a monthly basis in August, down from the outsized 1.15% growth in July but still beats market expectation of -0.2%, according to the Census Bureau’s latest release.

The Federal Reserve begins its two-day meeting on Tuesday and retail sales is the last major economic release on US consumer demand before the central bank announces its decision on Wednesday. Two-year treasury yield briefly rose above 3.6% after the retail sales reading.

Excluding motor vehicle and parts, sales rose 0.1%, slightly undershot the 0.2% consensus estimate.