By Brittney Sherman — News, retail
According to the National Retail Federation (NRF), year-over-year retail sales grew 1.69% in July and 1.93% in August. When restaurants are added into those core retail sales results, the year-over-year increase for August jumps to 2.11%. Five out of nine retail categories experienced growth in the month of August, driven mainly by clothes/accessories, garden/building, and sports/hobby purchases. Retailers are hoping this increase in consumer spending continues into the holiday months.
Read the full report HERE.