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.