U.S. retail spending rises in August for 4th straight month

U.S. retail spending rises in August for 4th straight month

Sept. 16 (UPI) — Consumer spending in the United States rose during August, which was the fourth straight month spending increased, government figures showed Wednesday.

The Commerce Department said in a report that retail and food services sales were up 0.6% last month, to $537.5 billion.

The August total was 5.1% higher than it was last year, and the increase from July was 2.4% higher year-to-year, the department said.

Month-to-month growth in August was slower than it was In July (0.9%), signaling a slight downturn in spending.

“Non-store retailers were up 22.4% from August 2019, while clothing and clothing accessories stores were down 20.4% from last year,” the report notes.

The U.S. economy declined by 33% in the second quarter due to the COVID-19 pandemic. Third quarter figures are expected next month.

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