Retail sales slow in August with increase of 0.1%

Retail sales grew a slight 0.1% in August, which represents a slowdown compared to the strong increase of 0.7% the previous month, according to data released today by the Department of Commerce.

This increase was below the forecasts of economists, who expected a rise of 0.3%.

Likewise, this figure represents the smallest increase recorded in the last six months and, above all, contrasts with the revised data of the previous month, when the national economy reached its best data for the month of July in 18 years.

The data for the month of August could have even been negative had it not been for the strong rebound in sales at gas stations, which experienced a marked increase of 1.7%. On the other hand, car sales in dealers fell by 0.8%.

Another sector that took muscle in August was that of online sales, which registered a growth of 0.7%.

In any case, in the accumulated data of the last twelve months, retail sales accumulate a healthy growth of 6.6% and specialists believe that the August figure is only a temporary blip.

Consumer spending is an important indicator since it represents two thirds of US GDP.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

“Humanitarian” cruise arrives in Florida with 3,800 evacuated by hurricanes

The "humanitarian" cruise that Royal Caribbean organized to bring help and evacuate people affected by hurricanes Maria and Irma in the US Virgin Islands...

Unemployment in the US rises to 5.9% in June, one tenth more, but 850,000 jobs are created

The unemployment rate in the United States stood at 5.9% last June, one tenth above the figure registered in the previous month, according to...

NATO insists that Russia has not withdrawn troops from the border with Ukraine

He criticizes that Moscow still does not send its response in writing to start the diplomatic channel The Secretary General of NATO, Jens Stoltenberg, has...

Poverty Rise in Greater Denver Area Affects Latinos More

Despite good economic momentum and very low unemployment in the Denver metro area of ​​less than 3 percent, poverty is growing rapidly in the...

More than one alcoholic beverage per day increases the risk of mortality and cancer

The risk of mortality and developing some types of cancers increases in those who drink more than one alcoholic beverage a day throughout their...