U.S. retail sales up 0.8 pct in July |
Last Updated(Beijing Time):2012-08-15 08:29 |
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U.S. retail and food services sales rose 0.8 percent in July, following a 0.7 percent drop in sales in June, the U.S. Department of Commerce reported Tuesday.
The department said the combined retail and food services sales in July increased to a seasonally adjusted 403.9 billion U.S. dollars. The figure was 4.1 percent above the level a year ago.
Excluding autos, retail and food services sales in July totaled 330.2 billion dollars, up 0.8 percent from June and up 3.2 percent from a year earlier.
Consumer spending accounts for about 70 percent of U.S. economic activity. Many economists worried that a slower economic growth and meager wage increases may be leading consumers to pull back on spending. |
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