NEW YORK (AP) — Shoppers spent at a healthy pace in July, particularly at the nation’s auto dealerships, even as President Donald Trump's tariffs start to take a toll on jobs and lead to some price increases.
But the figures also underscore anxiety among Americans: all the uncertainty around the expansive duties appears to be pushing them to step up their purchases of furniture and other items ahead of the expected price increases, analysts said.
Retail sales rose a solid 0.5% last month, and June spending was stronger than expected, according to the Commerce Department's report released Friday. June's retail sales were revised upward to 0.9% from the original 0.6% increase, the agency said. The pace in July matched economists' estimates.
The increases followed two consecutive months