August | featured news

Growth in retail sales stalled in August after a pitched battle over spending in Congress led consumer confidence to crumble, data showed on Wednesday.

Sales of video game hardware, software and accessories in the United States continued to slide in August according to new data from NPD Group, again dipp

The Democratic National Committee raised about $5.5 million in August, its worst fundraising month of the year, down from $6.7 million in July, according to figures provided by Democratic officials on Saturday and Federal Election Commission filings.

U.S. service firms, which employ 90 percent of the work force, grew at a slightly faster pace in August. But the sector remains weak, adding to concerns that the economy is at risk.

Job creation came to a halt in August, according to new government data that show an economic recovery that appears to be sputtering out. The Labor Department on Friday reported zero net job creation in August, far worse than the 68,000 net jobs analysts had expected to be added. The unemployment rate was unchanged at 9.1 percent. The July job growth number was revised downward, as well, to only 85,000 jobs added that month — not the 117,000 estimated.

Retail sales at major chain stores beat analysts' expectations, rising 4.4% year-over-year in August, according to Thomson Reuters' tally of 23 retailers. Discounters, including Target Corp. and Costco Wholesale Corp., did well as East Coasters stocked up before Hurricane Irene.

General Motors says its U.S. sales rose 18 percent in August as fuel-efficient vehicles helped offset economic uncertainty and bad weather. Other automakers may not fare as well.

Manufacturing grew a little slower in August than the previous month, but didn't contract as some had feared.

The pace of U.S. private sector job growth slowed in August for the second month in a row with employers adding 91,000 positions, a report by a payrolls processor showed on Wednesday.

The Martin Luther King memorial will be dedicated in August on the National Mall.