Write For Us

Commerce report: Americans reined in spending in August


Retail sales in the United States only slightly increased in August, but the industry picked up steam -- especially in new car manufacturing. File Photo by Roger L. Wollenberg/UPI

By Nicholas Sakelaris, UPI

A slowdown in new vehicle sales made for a sluggish August in the consumer market, as U.S. retail sales only barely increased for the month over July, new figures Friday showed.

From July to August, American consumers largely reined in spending -- represented by a 0.1 percent increase. Sales, though, grew by 6.6 percent over August 2017, the figures showed.

Overall sales were a seasonally adjusted $509 billion in August, the department's report said.

Sales at car dealerships and parts stores fell 0.8 percent last month -- the largest decrease among retail sectors. Spending at grocery stores was flat but sales at restaurants and bars increased 0.2 percent. Sales at gas stations were up 1.7 percent month-to-month, and up a whopping 20.3 percent year-to-year, officials said.

Department store sales fell 1 percent, clothing stores sagged 1.7 percent and online purchases gained 0.7 percent.

For September, economists predict a rise in sales before Hurricane Florence and a decline after it's passed.

Also Friday, the Federal Reserve reported a .4 percent increase in industrial sector growth for August, which exceeded most expectations.

The Fed statistics showed the sector is up nearly 5 percent from a year ago.

Automobile manufacturing increased 4 percent and led to a slight uptick in manufacturing in August.

The country's mines, factories and utilities last month reached their highest capacity utilization rates since April, at 78.1 percent, nearly pre-recession levels.

The Commerce Department also revised figures for July -- showing a slight gain of 0.7 percent.


Note: If you think this story need more information or correction, feel free to comment below your opinion and reaction.
Like & Follow to Stay Updated ...


Alabama,1,Arizona,1,Barack,1,California,3,Colorado,1,Connecticut,1,Crime,531,Florida,1,Franc,1,Hawaii,8,Illinois,1,Los Angeles,2,Massachusetts,3,Mississippi,1,New York,130,U.S.,1558,Washington,4,
U.S. - U.S. Daily News: Commerce report: Americans reined in spending in August
Commerce report: Americans reined in spending in August
U.S. - U.S. Daily News
Loaded All Posts Not found any posts VIEW ALL Read More Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy