Hosted by Dailymotion. For legal issues report at the Copyright Center, report us on DMC, or use the Instant Removal tool.
Consumer Spending Defies Inflation
Description
Consumer spending remained resilient in July as inflation cooled, leading to stronger-than-expected retail sales performance, according to the Commerce Department. The advanced retail sales report indicated a seasonally adjusted increase of 0.7% for the month, surpassing the Dow Jones estimate of 0.4%. Online retailers saw a 1.9% surge in spending, while categories like sporting goods, food service, and bars also experienced gains, while furniture and electronics sales declined. Despite multiple rate increases, consumer spending remained strong, with some turning to credit cards as savings declined.
Keywords & Tags
More from User
03:59
Stock Market Today: Dow, Nasdaq S&P 500 Futures Rise As Israel, Iran Exchange Missile Strikes
Benzinga
01:02
Karp Sounds Reg Alarm
Benzinga
01:02
SEC Kills PDT
Benzinga
00:56
Walmart Adds Subway Delivery
Benzinga
00:55
GLP-1s Fuel Return Surge
Benzinga
00:52
Hegseth Firm On Anthropic
Benzinga
Related Videos
01:34
US Consumer Spending Increases as Inflation Accelerates
Bloomberg
00:40
Retail Sales Rise 0.6% in December as Consumers Increase Holiday Spending, But Economic Challenges Loom
Benzinga
00:32
Weaker peso offsets high inflation impact on consumer spending
PTVPhilippines
00:37
Moderate Inflation, Consumer Spending Supports Fed Cutting Interest Rates
Entertainment (now)
01:37
US Consumer Spending Muted as Inflation Persists
Bloomberg
00:43
U.S. Consumers Cut Back As Inflation, Tariffs, And Uncertainty Shift Spending
Benzinga