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US retail sales rose by 1% in July, far exceeding expectations

U.S. retail spending rose in July, showing that cooling inflation and rising incomes continue to boost households' spending power. Retail sales rose 1 percent last month from the previous month on a seasonally adjusted basis, Commerce Department data showed. It was a strong pick-up from June, when sales figures were revised to decline 0.2 percent. Economists surveyed by The Wall Street Journal had expected retail sales to rise 0.3 percent in July.

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2024-08-15 20:36:30