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Retail sales rise for 4th straight month as growth slows

8 days ago   |   By Wood TV

NEW YORK - Americans kept spending in August, but the pace of that growth is slowing as millions of people who lost jobs have now lost a $600 a week boost in their unemployment checks.
Retail sales rose 0.6% last month, the fourth consecutive month of growth, the U.S. Commerce Department said Wednesday, but lower than the 0.9% increase in July. It's also below the 1.1% increase analysts expected.
“These are disappointing numbers,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics. “And they're probably a hint of what's to come in the wake of the ending of enhanced...
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U.S. retail sales rose 0.6% in August, vs 1.0% increase expected

U.S. retail sales rose 0.6% in August, vs 1.0% increase expected

8 days ago   |   By CNBC

U.S. consumer spending appeared to slow in August as extended unemployment benefits were cut for millions of Americans, offering more evidence that the economic recovery from the Covid-19 recession was faltering. CNBC's Rick Santelli and Steve Liesman break down the data.
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