Connect with us

Headlines

Retail Sales Saw July Decline

Overall retail sales fell 1.1 percent in July.

mm

Published

on

Retail sales reportedly declined 1.1 percent in July, which was worse than the anticipated decline of 0.3 percent, reports CNBC.

Book stores, Musical instrument and sporting goods stores had a sales decrease of 1.9 percent, and clothing took a 2.6 percent dip. Car and motor vehicle parts dealers’ sales fell 3.9 percent. Online sales also had a decline of 3.1 percent.

Despite this, food and beverage sales were up 1.7 percent and gas sales saw a 2.4 percent increase. Restaurants and bars also had a 38.4 percent increase in sales from this time a year ago.

“Although retail sales fell in July, the outlook for consumer spending remains positive … However, spending growth will shift from goods to services over the next couple of years, limiting growth in most categories of retail sales,” says Gus Faucher, Chief U.S. Economist at PNC, CNBC reports.

Advertisement

SPONSORED VIDEO

She Wanted to Spend More Time with Her Kids. She Called Wilkerson.

Your children are precious. More precious than gold? Absolutely! Just ask Lesley Ann Davis, owner of Lesley Ann Jewels, an independent jewelry store that — until the end of 2023 — had quite a following in Houston, Texas. To spend more time with her four sons, all in high school, she decided to close her store. Luckily, she was familiar with Wilkerson and called them as soon as she knew she wanted to move on to bigger, better and more family-focused things. Was she happy with her decision? Yes, she was. Says Davis, “Any owner looking to make that life change, looking to retire, looking to close, looking for a pause in their career, I would recommend Wilkerson. Hands down!”

Promoted Headlines

Most Popular