USA: retail sales stagnate in July over one month

Consumers took advantage of the decline in their spending at service stations, following the fall in the price of gasoline, to buy other goods.

Retail sales stagnated in July in the United States, as consumers took advantage of the decline in their spending at gas stations as the price of gasoline fell to buy other goods.

Total spending by U.S. individuals on stores, gas stations, bars and restaurants was $682.8 billion in July, the same as June, according to Commerce Department data released Wednesday. .

This is a little less than the timid increase of +0.1% that was expected by analysts, according to the MarketWatch consensus.

Sales at petrol stations fell 1.8% from June, while those of cars and parts also fell last month (-1.6%).

Excluding these two categories, retail sales are up 0.7%.

In particular, American consumers spent more in construction and gardening equipment stores (+1.5%).

These figures take into account the total amount of expenditure, but are not adjusted for inflation, which means that households consumed less for the same amount of expenditure.

Consumption has held up, despite the measures taken by the American central bank (Fed) to slow it down, which should make it possible to curb inflation.

Inflation certainly slowed down in July, to 8.5% over one year, and was even zero over one month. But it remains very high, close to 9.1% in June, a record for more than 40 years.

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