US Retail Sales Rise 0.5% in July, Highlighting Ongoing Consumer Strength

Consumer spending continues to bolster the US economy, with retail sales climbing 0.5% in July, the Commerce Department reported Friday. This increase aligns with economists’ expectations and follows an upwardly revised 0.9% gain in June.

Americans are maintaining their spending habits, supported by low unemployment rates and improving consumer sentiment. Spending at US retailers, encompassing restaurants and online purchases, contributes approximately 70% of the nation’s economic output, underscoring the vital role of the consumer in economic growth.

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