US retail sales up steadily in June
WASHINGTON (Reuters) - US retail sales made a solid advance in June, driven by increases in vehicle purchases and a host of other products, including ...
WASHINGTON (Reuters) - US retail sales advanced solidly in June, boosted by increases in vehicle purchases and a host of other products, bolstering expectations for strong second-quarter economic growth.The Commerce Department reported Monday that retail sales rose 0.5 percent last month.May data has been revised to show a 1.3 percent increase in sales, instead of the 0.8 percent rate reported earlier.May's increase in retail sales was the largest since September 2017.Economists polled by Reuters predicted that retail sales would rise 0.5 percent in June.June retail sales increased 6.6 percent from last year.Excluding automobiles, gasoline, building materials and food services, retail sales remained unchanged last month after a revised upward rise of 0.8 percent in May.The so-called core of retail sales corresponds more closely to the consumer spending component of Gross Domestic Product.Given the upward revision of May data, unchanged core retail sales reading last month ...
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