US: Retail sales unlikely to repeat July's 0.6% rise - BBH

US retail sales are unlikely to have repeated July's 0.6% rise as auto sales will be a major drag on the headline, according to analysts at BBH.  

Key Quotes

“The components that feed into GDP are likely to have risen around 0.3%, which is about the average so far, this year.  Similarly, industrial output growth likely slowed in August after a meager 0.2% increase in July which matches this year's average.  The jobs growth in manufacturing suggest that output in that sector likely fared better than over all industrial output.  However, there is nothing in these data points that suggests the US economy has accelerating.”