U.S. retail sales surged 1% in July, showing resilient consumer spending despite inflationary pressures and easing recession fears.
Sectors & Industries
August 19, 2024
U.S. consumer strength remained robust in July, as retail sales surged by 1%, significantly outpacing expectations.
This strong consumer activity, despite ongoing inflationary pressures, highlighted the resilience of consumer spending, driven by increases in motor vehicle, electronics, and food sales. The data eased recession concerns.
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