Good News, August | featured news

Retail sales in the U.S. increased in August by the most in six months, boosted by demand for automobiles along with higher gasoline prices that left consumers with less to spend on other goods. The 0.9 percent gain followed a revised 0.6 percent advance in July that was smaller than initially reported, the Commerce Department said today in Washington. The median forecast of 84 economists surveyed by Bloomberg called for an increase of 0.8 percent. Sales slowed at department stores, apparel retailers and electronics outlets.

Fewer Americans applied for unemployment benefits last week, and a private survey showed businesses stepped up hiring in August. The data sketched a brighter outlook for the job market one day before the government reports on August employment.

Most retailers, including Costco Wholesale Corp and Limited Brands Inc , posted better-than-expected sales gains at existing stores in August, in what is expected to be a healthy month as parents and students wrapped up back-to-school purchases.

U.S. consumer sentiment improved in early August to the highest in three months as sales at retailers and low mortgage rates spurred Americans to boost their buying plans, a survey showed on Friday.

Strong auto production drove factory output higher for a second straight month in August. But manufacturing was otherwise weak last month, a troubling sign for the economy.

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.

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.

The number of people who signed contracts to buy homes rose in August for the second straight month but remained far below last year's pace.

Sales of U.S. homes rose 7.6% in August -- recovering from their steep descent in July, when the end of a popular government stimulus program drove sales to their lowest levels in more than a decade.