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Retail sales rose in August, showing inconsistent consumer spending

Retail sales rose in August, showing inconsistent consumer spending

The Commerce Department reported on Tuesday that retail sales in the month of August saw a surge highlighting an uneven recovery for the economy as consumer spending habits keep swinging every month. The retail sales saw a 1.8% decline in July and then a climb of 0.7% in August. Economists say that the growth in August was better than what they had expected. This was due to a rise in spending on items like clothing, electronics, furniture and home goods. However, restaurants and bars saw a fall in sales after there was arise in July. 

Adding to this rise was also the back-to-school season as families prepared for the return. This resulted in a rise in the purchase of items like sporting goods, books and musical instruments. Sales at e-commerce sites also saw a rise of 6% after they fell in July. As for the automobile industry, there was a reported shortage in computer chips and sales were down by 4.5% in August. The Labor Department also reported that the price of consumer goods continued to climb at a slow pace in the month of August. 

Source: The New York Times 
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