Missouri’s sales tax holiday hit last weekend for back-to-school shoppers, and classes already have started in some places.
But retailers aren’t reporting robust sales. Stores open at least a year said revenue was up 3.5 percent in July, the slowest pace since March, The Associated Press reports.
The tally of 11 retailers by the International Council of Shopping Centers, which excludes drugstores, was below a 5.5 percent increase recorded in June. It’s an indication that families are either making due with children’s clothes from last year, shopping at thrift stores, exchanging hand-me-downs or waiting for deep discounts from retailers.
The strategies, however, won’t spur the economy to grow or unemployment to fall.