Consumer Behavior

August a slow consumer spend month, yet retail sales jump a teeny bit

Photo by istock.com

September 21, 2020

U.S. consumer spend slowed in August and core retail sales fell 0.1% but overall retail sales increased 0.6%.

The sluggish spending, according to a CNBC report, was likely tied to extended unemployment benefits ending for millions in the U.S. and the overall sales bump was reportedly due to higher gas prices.

August also showed slower job growth and signs fo fatigue in the manufacturing sector.