US Retail Sales up by 0.6%

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Tuesday, Aug 15 2017

US Retail Sales up by 0.6%

U.S. retail sales advanced in July by the most this year, with widespread gains from department stores to building materials outlets that signal a robust start to consumer spending in the third quarter, according to Commerce Department figures released Tuesday. Overall sales climbed 0.6% (est. 0.3% gain) after 0.3% advance in prior month (revised from 0.2% decline.

Sales excluding autos and gasoline rose 0.5% after a 0.3% rise. Retail-control group sales, which are used to calculate GDP and exclude the categories of food services, auto dealers, building materials stores and gasoline stations, increased 0.6% following a 0.1% gain. 10 of 13 major retail categories showed gains.

More in this category: « UK CPI unchanged in July Australian Wage Price Index grew by 0.5% »

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