Recent reports from MarketWatch reveal the economy is showing signs of growth with help from government subsidies for cars, higher gas prices and more shoppers spending money.
U.S. retail sales rose a seasonally adjusted 2.7% in August, the largest increase in more than three years. Economists surveyed by MarketWatch had predicted a 2.3% rise in retail sales for August, which ended up being stronger than expected because of widespread sales gains outside of gas stations and auto lots.
Meanwhile, sales were down 5.3% compared with a year earlier. Auto sales grew 10.6% bolstered by the government’s cash-for-clunkers program. Excluding auto, sales rose 1.1%, the largest increase since February, while gas station sales increased 5.1% due to higher prices. Excluding autos and gas, sales rose 0.6%.