U.S. Retail Sales Rebound Flattened in July; Sales up 1.2% vs June
Economic Indicators12 hours ago (Aug 14, 2020 08:37AM ET)
(C) Reuters.
By Geoffrey Smith
Investing.com — The rebound in U.S. retail sales faltered in July, as the exuberance of pent-up demand faded against a backdrop of record unemployment.
Retail sales rose only 1.2% from June, after gains of over 18% and 8% in May and June. The figure was below consensus forecasts for 1.9% growth ahead of time.
Core retail sales, a series that excludes automobiles, rose 1.9% on the month, better than the 1.3% gain expected but still a clear slowdown from 8.3% in June.
In year-on-year terms, sales were still 2.7% ahead of July 2019, helped in large measure by government support measures that have been drastically cut since the end of the month.
U.S. Retail Sales Rebound Flattened in July; Sales up 1.2% vs June
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
