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Retail Sale Surges Amid the Spread of Delta Variant 

The Census Bureau reported on Thursday that the Retail Sales have outperformed in august amid the spread of the delta variant. Sales increased 0.7% for the month against the Dow Jones estimate of a decline of 0.8%. The Labor Department reported that an economic report had documented the surge in Jobless Claims.

The Rate of Retail Sales continues to improve in the Us despite the continuous spread of the delta variant. Dow Jones estimated that the jobless claim was 320,000, but the labor department reported that as of September 11, jobless claims increased to 332,000.

Economists expected that the customers would cut back their activity as the Covid 19 delta variant continued to spread. The supply of chain bottlenecks also was expected to hold back spending as in-demand goods were hard to find. The high impact of the pandemic was noticed in the sales at bars and restaurants. The sales growth was flat for a month though it was 31.9% ahead when compared to the previous year.

The school supply sales outperformed this month. Electronics and appliances stores saw a 3.1% drop while sporting goods and music stores fell 2.7%. Furniture and home furnishing also saw a healthy 3.7% increase, while general merchandise sales rose 3.5%. Economists predicted that the sales of the brick and mortar store would drop, but this month sales jumped 5.3%. When overall sales were taken into picture, the Retail Sales was up 15.1% from the same period a year ago.

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