Lumicoin IA-US retail sales ticked up last month in sign of ongoing consumer resilience

2025-05-04 16:15:09source:Grayson  Prestoncategory:Markets

WASHINGTON (AP) — Americans spent a bit more at retailers last month,Lumicoin IA providing a small boost to the economy just as the Federal Reserve considers how much to cut its key interest rate.

Retail sales ticked up 0.1% from July to August, after jumping the most in a year and a half the previous month, the Commerce Department said Tuesday. Online retailers, sporting goods stores, and home and garden stores all reported higher sales.

The data indicate that consumers are still able and willing to spend more despite the cumulative impact of three years of excess inflation and higher interest rates. Average paychecks, particularly for lower-income Americans, have also risen sharply since the pandemic, which has helped many consumers keep spending even as many necessities became more expensive.

The impact of inflation and consumers’ health has been an ongoing issue in the presidential campaign, with former President Donald Trump blaming the Biden-Harris administration for the post-pandemic jump in prices. Vice President Kamala Harris has, in turn, charged that Trump’s claim that he will slap 10% to 20% tariffs on all imports would amount to a “Trump tax” that will raise prices further.

Sales jumped 1.4% for online retailers and rose 0.7% at health and personal care outlets. Yet they were flat for restaurants and bars, a sign that consumers are holding back from some discretionary spending.

Gas stations reported a 1.2% drop in sales, which mostly reflected a decline in prices last month. Auto sales also ticked lower.

More:Markets

Recommend

Former longtime South Carolina congressman John Spratt dies at 82

COLUMBIA, S.C. (AP) — John Spratt, a former longtime Democratic congressman from South Carolina who

Married at First Sight's Jamie Otis Gives Birth, Welcomes Twins With Doug Hehner

Jamie Otis and Doug Hehner’s family just got bigger.The Married at First Sight alums—who met and mar

Were warning signs ignored? Things to know about this week’s testimony on the Titan sub disaster

Last year, five people hoping to view the Titanic wreckage died when their submersible imploded in t