Weak U.S. retail sales dim Fed September rate hike prospects

September 15, 2016 1:28 PM

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WASHINGTON U.S. retail sales fell more than expected in August amid weak purchases of automobiles and a range of other goods, pointing to cooling domestic demand that further diminishes expectations of a Federal Reserve interest rate increase next week.

Other data on Thursday showed the labor market continuing to tighten with layoffs remaining very low last week, and underlying producer inflation creeping up in August.

Also read: Fed’s Kaplan Expects 3 Rate Rises This Year, but Says More May Be Needed

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