US retail sales in general continued to recover from the impact of the coronavirus pandemic in July, growing more slowly than the month before but adding to the strong turnaround seen since this spring\u2019s declines, said the National Retail Federation (NRF).<\/p>\n\n\n\n
\u201cRetail sales for July were another positive step in the right direction as our economy continues to slowly reopen,\u201d NRF President and CEO Matthew Shay said. \u201cAmericans are showing their continued resilience and willingness to spend in the face of this unprecedented pandemic and government actions to date have clearly supported consumers and the economy in this process.\u201d<\/p>\n\n\n\n
The US Census Bureau said that overall retail sales during July were up 1.2% seasonally adjusted from June and up 2.7% year-over-year. That follows an 8.4% month-over-month increase in June. Retail sales have been climbing after a record monthly drop while most stores were closed in April.<\/p>\n\n\n\n
NRF Chief Economist Jack Kleinhenz said, \u201cWhile households are spending, they are anxious about their health and economic well-being, so they are being pragmatic. The amount of uncertainty about forecasting is huge as we look toward the second half of the year, and what happens with the economy comes down to what the coronavirus allows us to do.\u201d<\/p>\n\n\n\n
NRF\u2019s calculation of retail sales \u2013 which excludes automobile dealers, gasoline stations and restaurants in order to focus on core retail \u2013 showed July was up 1% seasonally adjusted from June and up 10% unadjusted year-over-year. <\/p>\n","protected":false},"excerpt":{"rendered":"
US retail sales in general continued to recover from the impact of the coronavirus pandemic in July, growing more slowly than the month before but adding to the strong turnaround seen since this spring\u2019s declines, said the National Retail Federation (NRF). \u201cRetail sales for July were another positive step in the right direction as our…<\/p>\n","protected":false},"author":1,"featured_media":5797,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-5794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n