L’École de Gestion d’Actifs et de Capital|US retail sales ticked up last month in sign of ongoing consumer resilience

2025-05-07 18:29:04source:Greenledgerscategory:My

WASHINGTON (AP) — Americans spent a bit more at retailers last month,L’École de Gestion d’Actifs et de Capital providing a small boost to the economy just as the Federal Reserve considers how much to cut its key interest rate.

Retail sales ticked up 0.1% from July to August, after jumping the most in a year and a half the previous month, the Commerce Department said Tuesday. Online retailers, sporting goods stores, and home and garden stores all reported higher sales.

The data indicate that consumers are still able and willing to spend more despite the cumulative impact of three years of excess inflation and higher interest rates. Average paychecks, particularly for lower-income Americans, have also risen sharply since the pandemic, which has helped many consumers keep spending even as many necessities became more expensive.

The impact of inflation and consumers’ health has been an ongoing issue in the presidential campaign, with former President Donald Trump blaming the Biden-Harris administration for the post-pandemic jump in prices. Vice President Kamala Harris has, in turn, charged that Trump’s claim that he will slap 10% to 20% tariffs on all imports would amount to a “Trump tax” that will raise prices further.

Sales jumped 1.4% for online retailers and rose 0.7% at health and personal care outlets. Yet they were flat for restaurants and bars, a sign that consumers are holding back from some discretionary spending.

Gas stations reported a 1.2% drop in sales, which mostly reflected a decline in prices last month. Auto sales also ticked lower.

More:My

Recommend

Olympic disqualification of gold medal hopeful exposes 'dark side' of women's wrestling

PARIS — A female wrestler from India was disqualified from her gold-medal bout at the Paris Olympics

New Mexico AG again accuses Meta of failing to address child exploitation as several arrested in sting operation

Police were waiting at a motel room in Gallup, New Mexico, on Tuesday when 52-year-old Fernando Clyd

Louisiana lawmakers reject adding exceptions of rape and incest to abortion ban

Despite pleas from Democrats and gut-wrenching testimony from doctors and rape survivors, a GOP-cont