Sales at U.S. retailers rose modestly in July and returned to precrisis levels, but growth has tapered off since the economy reopened and could soften again in the months ahead in the absence of another major federal-relief package.
Retail sales rose 1.2% in July, the government said Friday. Economists polled by MarketWatch had forecast a 2% advance.
Receipts have slowed from a 8.4% increase in June and a record 18.2% gain in May when an economic rebound began.
