Retail Sales are Growing But not At a Greater Rate
Economists say that American consumers cannot be expected to contribute to a considerably stronger economic growth till the time they get raises that are relatively higher than the present ones.
Though the overall retail sales experienced a boost of 0.2% during the month June, yet that was far less than what the economists had expected it to be. However sales that does not include cars, building materials, gasoline and food services leaped to a height that was higher than expected at 0.6%.
There was a firm rise in the sales of clothing, general merchandise, sporting goods as well as all non-store retail items. Another encouraging factor was the rise of retail sales figures during the months of April and May.
All taken into account the sales till now for the current year is up by 3.8% at a yearly pace against a 4.2% in all experienced in the previous year.
Greg Daco the chief U. S. economist of Oxford Economics mentioned while looking at the data which was given out on Tuesday, "It's just modest growth. It's not the breakout report."
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