Summary Box: Retail sales jump in August

SPENDING REBOUNDS: The Commerce Department said retail sales rose 2.7 percent in August, the most in more than three years. A spike in auto sales, spurred by the Cash for Clunkers program, and higher gas prices drove the increase. Still, even excluding autos and gas, sales rose 0.6 percent, the largest rise in six months.

BUT IT MIGHT NOT LAST: Jobs are scarce, credit is tight and wages are declining, making it hard for consumers to keep spending without government stimulus programs. Auto sales are expected to fall sharply in the aftermath of the clunkers program, which provided incentives to trade in gas-guzzlers for new, more fuel-efficient models.

WHAT’S NEXT?: Many economists expect consumer spending to increase about 2 percent and the economy to grow by up to 4 percent in the current July-September quarter. But growth is expected to slow in the fourth quarter and early next year.