U.S. retail spending grew 1.9% last month, delivering a slight boost of confidence amid a recent spate of signs that the economic recovery has lost momentum from the pandemic's toll.
But U.S. shoppers spent more prudently in August and retail sales grew a tepid 0.6% from July, after extra federal jobless benefits expired and families faced a confusing back-to-school season.
People particularly stocked up on electronics and appliances, took more trips with stops at gas stations, and cautiously went out to eat as more stores and restaurants reopened.
U.S. stores and restaurants got a boost in June as retail sales jumped 7.5%. Spending on clothes doubled. But this was before a new surge in the coronavirus prompted renewed shutdowns in some states.
