Reported about 4 hours ago
US retail sales in August exceeded expectations, rising by 0.6% as consumers, amid a weakening labor market and inflation concerns, remain focused on finding deals. While electronics and clothing sales showed growth, major retailers like Best Buy and Walmart report that shoppers across income levels are increasingly seeking value for their purchases. Experts anticipate that cost-conscious shopping behaviors will persist despite potential interest rate cuts, with predictions for a 5% decrease in holiday spending this year.
Source: YAHOO