Retail sales rise a solid 0.5% in July from June helped by rebounding auto sales
Summary
Retail sales in the U.S. increased by 0.5% in July, with auto sales playing a big role in the rise. This growth followed two months of declining sales and was lower than June's revised 0.9% increase.Key Facts
- Retail sales increased by 0.5% in July compared to June.
- In June, retail sales grew by a revised 0.9%.
- Auto sales went up by 1.6% in July, helping boost overall sales.
- When excluding auto sales, retail sales increased by 0.3%.
- Sales at clothing stores rose by 0.7%.
- Sales at electronics stores fell by 0.6%.
- Online retailers experienced a 0.8% increase in sales.
- Previous months saw decreases in retail spending by 0.1% in April and 0.9% in May.
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