Washington
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The Americans still opened their portfolios last month, despite the persistent fears concerning the economy, a slowdown in the labor market and higher prices.
Expenditure among American retailers increased by 0.6% in August, the trade department announced on Tuesday, unchanged compared to 0.6% up from July. The figure of last month came much better than the expectations of economists of an increase of 0.2%, according to a survey of the Factseet data company. Retail sales are adjusted for seasonal oscillations but not inflation.
Employers have put the brakes on hiring in recent months when Americans are developing pessimists again about the future of the economy. President Donald Trump’s widespread rates have also started to increase certain prices, according to the consumer price index.
However, American consumers have not reduced their expenses significantly, and they can continue to pass as long as the layoffs do not go up.
Retail expenses increased in most categories last month, with online sales and purchases in clothing stores that increase the most, increasing 2% and 1% respectively.
The so -called retail control group – a measure that removes volatile components – increased by 0.74% in August, compared to 0.5% in July and well above economists’ expectations of an increase of 0.4%.
Sales last month was down in specialized stores and furniture retailers, down 1.1% and 0.3%, respectively. Expenses in health stores and department stores were both lowered 0.1% each.
“The economy seems to go very well for the moment and perhaps the slowdown in payroll jobs is a false head of the head with regard to forecasting the economy,” wrote Christopher Rupkey, chief economist at FWD Bond, in an analyst note on Tuesday. “Consumption expenses are resilient. Interest rate drops do not need to be adjusted because the economy sails very well. ”
Expenses in restaurants and bars increased by 0.7% in August compared to the previous month, according to the report.
This story develops and will be updated.
