Author: selinafroggatt

Mastercard SpendingPulse: Child Tax Credit Helps Lift U.S. Retail Sales Growth to 10.9%* in July

Retail sales in the U.S. grew for the 11th consecutive month in July, according to Mastercard SpendingPulseTM, which measures in-store and online retail sales across all forms of payment. With more cash in hand—fueled in part by the Child Tax Credit and pent-up savings—consumers drove U.S. retail spending growth excluding automotive and gasoline to +10.9% compared to July 2020. This is nearly quadruple the average growth in the month of July**. At a national level, back-to-school shopping is well underway, impacting a number of sectors as anticipated in our forecast. Overall, key retail trends from July include:   Child Tax Credit Boosts ... Read more
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