American retail sales expanded more significantly than expected in July

By: Trademagazin Date: 2024. 08. 20. 11:22

Retail sales in the United States expanded more significantly than analysts had expected in July on a monthly basis, but accelerated growth was also recorded in an annual comparison.

Bureau of Statistics of the Department of Commerce in Washington, U.S. According to data posted on the Census Bureau’s website on Thursday, in July, retail sales increased by 1 percent, the largest since January 2023, compared to June, when a decrease of 0.2 percent was recorded. Analysts’ expectations included a more modest 0.4 percent monthly increase in retail sales.

Sales of motor vehicles and spare parts increased the most, by 3.6 percent, followed by a 1.6 percent increase in sales of electronics and household products. Food sales increased by 1 percent, and construction material and garden equipment sales increased by 0.9 percent. Meanwhile, sales of sports equipment, hobbies, musical instruments and books, for example, decreased by 0.7 percent, and sales of clothing and footwear decreased by 0.1 percent.

The growth of retail sales, calculated without car and fuel sales, slowed to 0.4 percent from 0.8 percent in June.
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