U.S. Retail Sales See Modest Rise Amid Inflation Concerns

Despite falling short of economists' expectations, June's retail sales rose by 0.2%, signalling a slowing yet steady consumer demand amid inflation worries.

U.S. Retail Sales See Modest Rise Amid Inflation Concerns
Photo by Alexander Kovacs / Unsplash

Despite expectations of a 0.5% increase, June saw a modest 0.2% rise in retail sales, attributed to amplified spending on e-commerce platforms, home furniture, and electronics. Compared to the previous year, retail sales have grown by 1.5%. Notably, online retailers experienced a 1.9% increase in spending, whereas department stores, gas stations, and food and beverage stores saw a decrease.

Although this data indicates a softening in consumer demand, it does not predict a severe downturn. Policymakers view this slowing demand as beneficial in controlling inflation without causing a recession.

Source: Axios

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