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