August Retail Sales Indicate The Recovery Is Intact

Published Friday, September 17, 2021 at: 7:03 PM EDT

Retail sales for the 12 months through August rose 14.9%. According to the U.S. Census Bureau, retail sales totaled $618.7 billion in August, a seven-tenths of 1% jump from July. Back-to-school shopping explained the uptick from July.

Retail sales are an important component of consumer spending, which accounts for 70% of total U.S. economic growth. The report indicates that the recovery is intact, at a time when the Delta Variant is raising fears about the economy’s momentum.

The Standard & Poor’s 500 stock index closed this Friday at 4,432.99, losing -0.91% from Thursday and -0.57% from last week’s closing price. The index is up +65.83% from the March 23, 2020, Covid-induced bear market low.

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The articles written in this newsletter were written by a journalist hired by Advisor Products, Inc. and provided to you by The Clark Group Asset Management. Their accuracy and completeness are not guaranteed. The Clark Group Asset Management is not a legal or tax advisor.

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