Retail rebound slowed in August as sales grew less than 1%

Retail sales increased 0.6% in August, and July’s number was revised down from 1.2% to 0.9%, the U.S. Census Bureau reported Wednesday, as the pace of purchasing has slowed.

Economists had projected a 1.1% increase for August.

Despite the slowdown, August marks the fourth month in a row of positive growth. Retail sales have increased more than 15% since March, following the pandemic-induced shutdowns.

This is breaking news and will be updated.

Source: washingtonexaminer.com

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