By ANNE D’INNOCENZIO, Associated Press Retail Writer
NEW YORK (AP) — 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.
Retail sales rose 0.6% last month from July, when sales were up a revised 0.6%, according to the Commerce Department’s report.
Related Articles
How much for matcha? Prices for the popular powdered tea soar due to global demand
What to know after US says it has reached framework deal with China to keep TikTok in operation
McDonald’s plans $200 million investment to promote regenerative practices on US cattle ranches
Nvidia violated antimonopoly laws, China says
Shipping companies support a first-ever global fee on greenhouse gases, opposed by Trump officials
The performance, announced Tuesday, was also likely helped by the continued efforts by Americans to keep pushing up purchases ahead of expected price increases. Moreover, higher prices could be bolstering the number as well.
The increases followed two straight months of spending declines in April and May.
Excluding auto sales, which have been volatile since Trump imposed tariffs on many foreign-made cars, retail sales rose 0.7% in August.
The data showed solid spending across various stores. Business at electronics and appliance stores up 0.3%, while online retailers had a 2% increase. Business at restaurants rose 0.7%.
Leave a Reply