U.S. retail sales climbed 0.5% in July from the prior month, matching economists’ forecasts and underscoring the resilience of household spending in the face of higher import costs. The Commerce Department also revised June’s increase upward to 0.9%, providing a stronger base for third-quarter consumption. Gains were broad-based: sales at motor vehicle and parts dealers rose 1.6%, the biggest jump since March, while non-store retailers—including major online promotions such as Amazon’s extended Prime Day—added 0.8%. Nine of 13 categories advanced overall. Excluding autos, sales increased 0.3%, and the control-group measure that feeds into GDP rose 0.5%. The data suggest consumers are continuing to spend despite the 145% tariff on Chinese goods imposed in April, which has begun to raise import prices. With consumption accounting for roughly two-thirds of U.S. economic activity, July’s solid showing may temper expectations for an imminent slowdown even as Federal Reserve officials monitor tariff-driven cost pressures and a cooling labor market.
Retail spending was robust in July as consumers snapped up summer sales and wages grew above the rate of inflation, a monitor’s report said Monday. https://t.co/eh5sgPg4Cj https://t.co/GuAF9VAEbQ
My Thoughts about those July Retail Sales. Drunken Sailors going about their lives, spending money, moving the economy forward https://t.co/evuHyjiw3A https://t.co/WHvuZ30WWN
Shoppers spent at a healthy pace in July, particularly at the nation's auto dealerships, as they shrug off President Trump's tariffs, which are starting to take a toll on jobs and lead to some price increases. https://t.co/bFEWR3b6vN