US retail sales rose by 1% in July, far exceeding expectations
2024-08-15 12:36:30
U.S. retail spending rose in July, showing that cooling inflation and rising incomes continue to boost households' spending power. Retail sales rose 1 percent last month from the previous month on a seasonally adjusted basis, Commerce Department data showed. It was a strong pick-up from June, when sales figures were revised to decline 0.2 percent. Economists surveyed by The Wall Street Journal had expected retail sales to rise 0.3 percent in July.
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