BUSINESS US retail sales drop 1.1% in July as car purchases fall: govt

BUSINESS

US retail sales drop 1.1% in July as car purchases fall: govt

AFP

20:47, August 17, 2021

Signs in the window of a closing Debenhams store offer sales bargains on the High Street in Winchester, south west England on March 31, 2021. (Photo: AFP)

Purchases of vehicles plunged in July, sending US retail sales down a surprising 1.1 percent, the government reported Tuesday, a far bigger drop than analysts were expecting.

Auto sales collapsed 4.3 percent compared to June, the Commerce Department reported. Excluding all motor vehicles and parts, total retail sales fell just 0.4 percent.

Most categories declined, except gasoline stations where rising prices boosted the total. But sales are still 15.8 percent higher than July 2020, the report said.

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