August Retail Sales Indicate The Recovery Is Intact 

Published Friday, September 17, 2021 at: 7:03 PM EDT

Retail sales for the 12 months through August rose 14.9%. According to the U.S. Census Bureau, retail sales totaled $618.7 billion in August, a seven-tenths of 1% jump from July. Back-to-school shopping explained the uptick from July.  

Retail sales are an important component of consumer spending, which accounts for 70% of total U.S. economic growth. The report indicates that the recovery is intact, at a time when the Delta Variant is raising fears about the economy’s momentum. 

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This article was written by a professional financial journalist for Meg Green & Associates. and is not intended as legal or investment advice.

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