Financial News: U.S. Retail Sales Jump Much More Than Expected

U.S. Retail Sales Jump Much More Than Expected In July

08/15/2024 - 08:37:00 (RTTNews)

(RTTNews) - The Commerce Department released a report on Thursday showing retail sales in the U.S. increased by much more than expected in the month of July.

The report said retail sales jumped by 1.0 percent in July after edging down by a revised 0.2 percent in June.

Economists had expected retail sales to rise by 0.3 percent compared to the unchanged reading originally reported for the previous month.

Excluding a surge in sales by motor vehicle and parts dealers, retail sales rose by 0.4 percent in July after climbing by 0.8 percent in June. Ex-auto sales were expected to inch up by 0.1 percent.

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