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US Consumers Cautious

US Consumers CautiousUS Consumers Cautious

US retail sales were unchanged in July from the previous month, a sign that consumers were cautious after three months of solid gains, AP reported. Americans spent less at clothing shops, sporting goods stores and electronics and appliance outlets, the Commerce Department said Friday. Spending at grocery stores fell by the most in more than five years. Those declines were offset by big increases in auto sales and online and catalog sales. Much of the overall weakness also reflected a steep fall in gas station sales, which largely reflects lower prices rather than lower demand. Excluding gasoline, retail sales rose 0.2%.

 

Financialtribune.com