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- U.S. retail sales jumps 0.6% in July
U.S. retail sales jumps 0.6% in July
The U.S. Commerce Department released the retail sales data on Thursday. The U.S. retail sales climbed 0.6% in July, exceeding expectations for a 0.5% increase, after a flat reading in June. June's figure was revised up from a 0.3% drop.
The increase was partly driven by higher automobiles purchases. Automobiles sales rose 1.4% in July.
Retail sales excluding automobiles increased 0.4% in July, in line with forecasts, after a 0.4% gain in June. June's figure was revised up from a 0.1% decrease.
Sales at building material and garden equipment stores climbed 0.7% in July and sales at furniture stores increased 0.8%.
Sales at electronics and appliance outlets declined 1.2% in July, while sales at clothing retailers were up 0.4%.
These figures could add to speculation on that the Fed starts raising its interest rate next month.
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