WASHINGTON — Retail sales posted a larger-than-expected decline in August, a Commerce Department report on Tuesday showed, but the drop was mostly confined to the auto sector.
Commerce said retail sales fell 0.3% in August — more than the 0.1% drop economists had been projecting — but sales excluding autos rose 0.2%, matching expectations.
In a second report, the deficit in the broadest measure of trade swelled to a record high $166.2 billion in the second quarter of this year, up from a $147.2 billion deficit registered in the first quarter, the department said.
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The current accounts report is considered the best measure of a country's international economic standing because it tracks not just the goods and services reflected in the government's monthly trade reports but also investment flows between countries and unilateral transfers, including U.S. foreign aid payments.
http://www.usatoday.com/money/economy/trade/2004-09-14-retail-sales_x.htm