07/18/2023

U.S. Retail Sales Rise Slightly in June

Meanwhile, core retail sales remained solid

U.S. retail sales rose less than expected in June, though consumer spending appeared to be solid, which likely kept the economy afloat in the second quarter.

Retail sales increased 0.2 percent last month, the Commerce Department said on Tuesday. Data for May was revised higher to show sales gaining 0.5 percent instead of 0.3 percent as previously reported.

Economists polled by Reuters had forecast retail sales gaining 0.5 percent. Retail sales are mostly goods and are not adjusted for inflation. Food services and drinking places are the only services category in the retail sales report.

Please select this link to read the complete article from Reuters.