Back-to-school shopping didn’t help retail sales in August, as spending rose just 0.3%, the smallest gain in four months.
Back-to-school shopping didn’t help retail sales in August, as spending rose just 0.3%, the smallest gain in four months.
Consumer may be growing more cautious about spending, a trend that could slow economic growth in the July-September quarter. Slow wage growth, modest job gains and higher taxes have limited Americans’ spending power.
Retail sales are closely watched because they’re the government’s first look each month at consumer spending, which accounts for 70 percent of economic activity.
Read more at OregonLive.com.
