US retail sales rise for 3rd month but slowdown expected
August 14, 2020
WASHINGTON (AP) — Americans increased their spending at retail stores and restaurants in July for a third straight month, but some evidence suggests that sales are weakening with the expiration of government rescue aid that had previously put more money in people's pockets.
Friday's report from the Commerce Department showed that retail purchases rose by a seasonally adjusted 1.2% last month. The gains of the past three months have now restored retail purchases to their levels before they plunged in March and April when the pandemic shuttered businesses and paralyzed the economy.