US shoppers roar back in August, lifting retail sales 1.2% after July dip

Consumers may be griping about higher prices at the pump and elsewhere, but they keep spending, helping to power the economy, according to the latest government snapshot. Retail sales increased a better-than-expected 1.2% last month after recording a revised 0.5% dip in July, according to Commerce Department data released Wednesday. Economists were expecting a 0.7% gain for the month, according to FactSet.

The decline in July was notable because there had been few signs of fatigue from U.S. consumers. Americans spent heavily during the World Cup and Amazon Prime Day sales this summer. That followed heavy retail traffic in April and May as Americans dipped into their government tax refunds.

Read the original report at Apnews.