U.S. Retail sales fall short of expectations

Business

Retail sales rose 1.2% last month after advancing 8.4% in June.

(FOX NEWS) — US household spending increased by 1.2-percent in July which is less than what was predicted.

In June, retail sales rose a whopping 8.4-percent.

Economists polled by Reuters had forecast retail sales would rise 1.9-percent in July.

Retail sales have been rebounding as businesses resumed operations after being closed in mid-March in an effort to slow the spread of the coronavirus.

However, as COVID-19 infections continue to rise in some areas, authorities in hot-spots are deciding to shut down businesses again or pause reopenings.


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