US retail sales flat as gas prices fall
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In July, US retail sales were unchanged from June. Such data on Wednesday, August 17, presented US Department of Commerce. Analysts polled by Refinitiv had expected July sales to rise 0.1%. The ministry also revised sales growth results for June from 1% to 0.8%.
Gasoline prices slightly decreased in July, so its sales decreased by almost 2%. According to experts, this is what led to the preservation of retail sales at the level of June – sales in most other categories rose slightly over the month. The so-called key retail sales (they do not include sales of such categories of goods as food, gasoline, cars, building materials, as their prices are less stable and distort the overall statistics) rose by 0.8% in July.
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