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Retail Sales Jump in August

Retail sales surged the most in a year last month as unemployment fell more than estimated, boosting household purchasing power.

Sales rose 7.8 percent in August from a year ago, after a revised 5.7 percent increase in July, the State Statistics Service said Monday.

Real wages advanced 3.9 percent in August from a year earlier, and disposable incomes gained 1.4 percent, the service said. Fixed-capital investment increased 6.5 percent after rising 7.9 percent in July, the most this year.

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