List 4A Tariffs Present ‘Downside Risks’ to Consumer Spending, Says NRF
August sales at electronics and appliance stores declined 2.9 percent year over year and were unchanged sequentially from July, reported the National Retail Federation Friday. Retail sales across the board increased 4.1 percent in August from a year earlier and…
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were up 0.4 percent from July, said NRF. Online and other non-store sales were up 14.3 percent year over year and up 1.6 percent month over month, it said. Consumer spending stayed “resilient” in August though sales grew “somewhat slower” than in July, “which could reflect consumers’ concerns about the unpredictability of trade policy,” it said. It’s “too early to assess the impact” of the 15 percent List 4A Section 301 tariffs that took effect Sept. 1, “but they do present downside risks to household spending,” said NRF.