"August retail sales show that consumers remain steadfast in the face of continued inflation and higher interest rates."

Comments from NRF president and CEO Matthew Shay, who explained in an NRF press release, “Retail Sales Grew Again in August Despite Slowing Economy” that “consumers are focused on household priorities, as evident by spending this back-to-school season. Entering the fall, we expect moderate growth to continue despite uncertainties like the direction of inflation and interest rates as well as a potential government shutdown."