ICYMI: U.S. retail sales dropped 1.1% in July on weak autos sales, suggesting a slowdown in economic growth early in the third quarter
closed at record highs on Monday. The dollar rose against a basket of currencies. U.S. Treasury prices were higher.Excluding automobiles, gasoline, building materials and food services, retail sales fell 1.0% last month after an upwardly revised 1.4% increase in June. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product. They were previously estimated to have accelerated 1.1% in June.
Rising infections driven by the Delta variant of the coronavirus could, however, slow the services spending boom. "We've long held the view that discretionary services would lift overall consumer spending this year as the economy trended back to some semblance of normal," said Tim Quinlan, a senior economist at Wells Fargo in Charlotte, North Carolina. "But now with the resurgence of COVID, those gains may be more tepid."
Consumer spending, which accounts for more than two-thirds of U.S. economic activity, notched double-digit growth in the second quarter, helping to pull the level of GDP above its peak in the fourth quarter of 2019.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
UK July retail sales drop amid soccer frenzy and COVID 'pingdemic'British retail sales unexpectedly fell in July, official data showed on Friday, suggesting at least some consumers skipped shopping to follow England's run in the Euro 2020 soccer tournament, or stayed at home due to rising COVID-19 cases.
Leer más »
WSJ News Exclusive | Confidential State Department Cable in July Warned of Afghanistan’s CollapseAbout two dozen State Department officials at the U.S. embassy in Kabul warned last month in a confidential memo of the city's potential collapse soon after the Aug. 31 U.S. troop withdrawal deadline, people familiar with the matter say
Leer más »
Job openings requiring vaccination are up 90% in August compared to JulyVaccination requirements are increasing for job openings in software development, marketing, education, sales and more.
Leer más »
UK July retail sales drop amid soccer frenzy and COVID 'pingdemic'British retail sales unexpectedly fell in July, official data showed on Friday, suggesting at least some consumers skipped shopping to follow England's run in the Euro 2020 soccer tournament, or stayed at home due to rising COVID-19 cases.
Leer más »
Amazon plans to open large physical retail stores in U.S. - WSJAmazon.com Inc is planning to open large physical shops in the United States that will operate like department stores, the Wall Street Journal reported on Thursday, as the e-commerce giant expands its footprint in brick-and-mortar retail.
Leer más »