Shoppers paused their spending June from May as they deal with moderating inflation but still high interest rates that have made buying anything on credit more expensive.
FILE - A holiday sale sign is displayed at a retail store in Rosemont, Ill., June 25, 2024. On Tuesday, July 16, 2024, the Commerce Department releases U.S. retail sales data for June. – Shoppers paused their spending June from May as they wrestle with moderating inflation but still high interest rates that have made buying anything on credit more expensive.
Retail sales were unchanged in June from May, which was better than economists expected, after being revised at up 0.3% in May, according to the Commerce Department. Last month, April sales were revised downward — a 0.2% decline, from unchanged. Sales rose 0.6% in March and 0.9% in February. That comes after sales fell 1.1% in January, dragged down in part by inclement weather.Online sales rose 1.9% while business at restaurants rose 0.3%. Clothing and accessories store sales rose 0.6%.
Government retail data isn’t adjusted for inflation, which declined 0.1% from May to June, according to the latest government report. High inflation helps to inflate retail sales figures. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Retail sales unchanged in June from May as inflation moderatesShoppers paused their spending June from May as they deal with moderating inflation but still high interest rates that have made buying anything on credit more expensive. Retail sales were unchanged in June from May, which was better than economists expected, after being revised at up -0.3% in May, according to the Commerce Department.
Read more »
Retail sales rise by paltry 0.1% as shoppers feel pinch of high inflationToday's Business Headlines: 06/18/24
Read more »
Indian retail car sales fall in June amid heatwaves, says dealers' bodyIndian retail car sales fall in June amid heatwaves, says dealers' body
Read more »
Alabama Retail Association says new retail theft law effective so farThe state’s new retail theft law has not even been around an entire year yet, but the Alabama Retail Association says it is working.
Read more »
How Olive & June Is Winning at RetailOlive & June surpassed $100 million in profitable retail sales in 2023.
Read more »
'Mama June: Family Crisis': Anna Shares Lighthearted Moment With Mom June Amid Her Health Battle (Exclusive)A new episode of 'Mama June: Family Crisis' airs Friday, June 28, at 9 p.m. ET/PT on WEtv.
Read more »