Retail sales in the United States grew less than expected in July

By: Trademagazin editor Date: 2020. 08. 17. 15:07

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The increase in the number of coronavirus infections and the decline in unemployment benefits and thus disposable income led to a smaller-than-expected increase in retail sales in the United States in July, according to a report by the Census Bureau of the Washington Department of Commerce.

Compared to the previous month, expansion was 1.2 percent with seasonal and calendar adjustment instead of the expected 1.9 percent increase and after the 8.4 percent increase in June. Retail sales grew by 0.8 percent in January and then began to decline the following month. Retail sales fell 0.4 percent in February, 8.2 percent in March, and 14.7 percent in April from a month earlier. In May, however, growth began with a monthly increase of 18.2 percent. (MTI)