U.S. retail sales rose 0.5% in July from the prior month, matching economists’ consensus, according to government data released Thursday. The increase follows a revised 0.6% gain in June and suggests consumer spending momentum held steady at the start of the third quarter. Sales excluding motor vehicles advanced 0.3%, while the measure that strips out both autos and gasoline climbed 0.2%. The so-called control-group category—used to calculate personal consumption expenditures in GDP—also increased 0.5%, slightly above the 0.4% projection.
US retail sales for July 0.5% vs 0.5% est. Ex Auto 0.3% vs 0.3% est. https://t.co/St9YtNtHf0
*US JULY RETAIL SALES RISE 0.5% M/M; EST. +0.6% https://t.co/RF7Cxpn86q
US JULY RETAIL SALES +0.5% (CONSENSUS +0.5%) US JULY RETAIL SALES EX-AUTOS/GASOLINE +0.2% VS JUNE +0.8% (PREV +0.6%)