U.S. retail spending rose 0.6% in August for the fourth straight monthly increase, but at a slower pace as some extra unemployment benefits ran out.
The increase reported by the Commerce Department on Wednesday marks an eased pace than earlier in the summer when spending rebounded sharply from steep declines that occurred early in the coronavirus pandemic. July’s gain was revised lower, to a 0.9% increase from an earlier reading of a 1.2% rise.
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