Wednesday September 23, 2020

Car sales holding up US retail figures

Demand in eight of 12 categories weaker in July

12th August, 2016
Cars prevent a drop in US retail sales. Pic Pixabay

Sales at US retailers were little changed in July as Americans flocked to car dealers at the expense of other sectors.

The stalling of purchases followed a 0.8 per cent gain in June that was stronger than initially estimated, Commerce Department figures showed. The median forecast in a Bloomberg survey called for a 0.4 per cent rise in July. Excluding cars, sales retreated 0.3 per cent, the most since the start of the year.

Improving car sales drained...

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