U.S. retail sales rose 1% in July, well ahead of expectations
U.S. retail spending increased in July, indicating that cooling inflation and rising incomes continue to drive households' spending power. Adjusted for seasonal factors, retail sales rose 1% last month from the previous month, according to the U.S. Commerce Department. It was a strong rebound from June, when sales figures were revised down 0.2%. Economists surveyed by The Wall Street Journal had previously expected retail sales to rise 0.3% in July.
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