Official figures show that US retail sales unexpectedly fell by 0.3% in August, with strong car sales helping to prevent a steeper decline. Analysts had expected a 0.3% gain.
The Commerce Department said that, excluding car sales, August retail sales were 0.7% lower. It revised upward its estimate of July retail sales to a rise of 0.1% instead of a 0.1% decline.
Separate US figures from the Labor Department showed that a sharp drop in energy costs pulled wholesale prices down 0.9% in August, in a sign of easing inflation pressures. The producer price index (PPI) showed its first decline since the start of the year and the sharpest drop since October 2006.
The core index - which excludes food and energy and is sometimes seen as a better indication of future inflation - rose 0.2% for the month. The drop in the overall PPI came after a sharp 1.2% surge in July and a 1.8% jump in June. Leading the downturn was energy - with a 4.6% decline in August.
