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US retail sales rebound sharply in August
Commerce Department data showed gains at online retailers, clothing stores, furniture stores and restaurants as consumers spent more after July’s decline.
- Retail sales rose 1.2% in August according to Commerce Department data released Wednesday, rebounding from a revised 0.5% dip in July as consumers spent at a better-than-anticipated pace.
- Many Americans spent heavily during the World Cup and Amazon Prime Day this summer, following heavy retail traffic earlier in the year when consumers dipped into government tax refunds.
- Online retailers registered a 2.6% gain, while excluding gas stations, retail sales rose 1.1%; clothing stores rose 0.7% and furniture stores saw a 0.9% increase.
- Americans continue to spend despite increasing gas prices that reached $4.37 per gallon according to AAA, following renewed fighting in the Middle East.
- These government figures are not adjusted for inflation and offer only a snapshot of consumer spending, notably excluding service activities like travel and hotel stays.
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43 Articles
43 Articles
·Rio de Janeiro, Brazil
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US Retail Sales Rebound More Than Expected in Broad Advance
·New York, United States
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Retail sales rise 1.2% in August after shoppers pulled back spending in July
Consumers stepped up their spending at a better-than-anticipated pace in August after an unexpectedly sharp pullback in July. Retail sales rose 1.2% last month after recording a revised 0.5% dip in July, according to Commerce Department data released Wednesday. The decline in July was notable becaus...
·Kelowna, Canada
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Associated Press News+18 Reposted by 18 other sources
Retail sales rise a better-than-expected 1.2% in August after shoppers pulled back spending in July
Consumers may be griping about higher prices at the pump and elsewhere, but they keep spending, helping to power the economy, according to the latest government snapshot.
·New York, United States
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Total News Sources43
Leaning Left12Leaning Right7Center8Last UpdatedBias Distribution44% Left
Bias Distribution
- 44% of the sources lean Left
44% Left
L 44%
C 30%
R 26%
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