Retail Sales Slowed in August

Core retail sales fell in August 0.1 percent
Posted September 16, 2020

U.S. consumer spending slowed in August, according to CNBC, citing that extended unemployment benefits had been cut for many Americans which may have attributed to the slow down.

Overall retail sales did increase by 0.6 percent, yet this was due in part to higher gasoline prices.

In August, core retail sales fell 0.1 percent after a 0.9 increase in July (revised from a previously reported 1.4 percent), according to the Commerce Department and CNBC.