Growth in retail sales in July was greater than expected

July retail sales in the United States have become significantly higher than expected by analysts.

The US Department of Commerce announced on Wednesday that the seasonally adjusted and calendar effect adjusted retail sales were 507.5 billion USD in July, which is a 0.5 percent increase, compared to the previous month.

Analysts expected a minimum increase of 0.1 percent, following a 0.2 percent rise in June. (MTI)