Last month's retail sales in the United States fell 1.1% from the previous month, weakening the momentum of consumer spending, which has been expanding due to national cash benefits and other factors.

Last month's retail sales, announced by the US Department of Commerce on the 17th, were $ 617.7 billion, or JPY 67 trillion in Japanese yen, down 1.1% from the previous month, well below market expectations.



Breaking it down, “gasoline” and “food and drink / bars” increased from the previous month against the backdrop of summer leisure demand, but “clothes / accessories” and “automobiles” affected by the shortage of semiconductor supply decreased.



Private consumption, which accounts for 70% of US GDP, increased by 11% from April to June compared to the previous three months due to the spread of the new coronavirus vaccine and national cash benefits. However, this time the momentum has weakened.



There is also the view that sharply rising prices have curbed consumption.



In the United States, there has been no widespread movement by the state government to tighten restrictions on economic activities in response to the spread of Delta strains, but there is a possibility that there will be a tendency to refrain from going out and consuming. Trends in personal consumption are being closely watched.