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Retail sales up 0.6% in August from July even as tariffs hurt jobs and lead to price hikes
Retail sales excluding volatile auto sector grew 0.7% in August despite tariffs; online retail sales increased 2%, reflecting cautious but steady consumer spending.
- Retail sales in the US rose 0.6% in August from July, better than expected despite President Trump's tariffs starting to impact jobs and hike prices.
- Excluding volatile auto sales impacted by tariffs, retail sales rose 0.7% in August.
- The solid spending across various stores such as electronics, online retailers, and restaurants was likely boosted by back-to-school purchases and Americans' efforts to buy ahead of expected price increases due to tariffs.
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Retail sales up 0.6% in August from July even as tariffs hurt jobs and lead to price hikes
Shoppers increased their spending at a better-than-expected pace in August from July, helped by back-to-school purchases, even as President Donald Trump’s tariffs are starting to hurt the job market and lead to price hikes.
·United States
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Total News Sources58
Leaning Left11Leaning Right4Center26Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
L 27%
C 63%
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