10:01 ET - Consumers wrapped up their summers on a spending spree, even as rising costs pressure household budgets, wrote Ben Ayers, Nationwide's senior economist after August's strong retail sales report. Online sales rose robustly, while general merchandise and sporting goods stores likely received a boost from back to school expenditures, he said. Sales at food service and drinking places also rose, indicating that consumer spending was broad, Ayers added.
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