Retail sales slow in August with increase of 0.1%

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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.

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