NEW YORK (AP) — New data shows Americans spent — at best — only slightly more this August than last.
MasterCard's SpendingPulse is reporting Wednesday that August spending rose on children's clothing and consumer electronics. But shoppers pulled back on most other merchandise, including women's and men's fashions and luxury goods.
In fact, spending on many nonessentials remained about where it was five years ago.
Online sales, up for a 13th month in a row, offered a rare bright spot. They rose 7.2 percent from a year ago, when they were up 1.5 percent.
The figures confirm a flurry of anecdotal evidence that this year's back-to-school season will disappoint retailers.
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