Braking Down The News

U.S. Retail Spending Held Steady in July

Excluding autos and gasoline, spending rose 0.7%

16

U.S. consumers continued opening their wallets last month, shifting savings from falling gasoline prices to purchases of everyday goods as they weathered high inflation and a slowing economy.

Overall retail sales—a measure of spending at stores, online and in restaurants—were flat in July compared with the prior month’s revised 0.8% increase, the Commerce Department said Wednesday. But a measure of spending that strips out gasoline and auto sales rose 0.7% last month from June, showing shoppers maintained the ability to spend with much of the spending moving online.

 

Continue Reading…

 

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More