July's Resilient Retail Sales Spark Speculation About Fed Policy, Amazon Prime Day Effect: 3 Hot Takes From Economists
Consumer spending maintained its robust momentum in July, as indicated by the latest retail sales data.
Total sales grew by 0.7% month-on-month, the highest since January 2023, advancing from an upwardly revised 0.3% growth in June and sharply beating forecasts of 0.4%.
In annual terms, retail sales soared 3.2%, smashing expectations of 1.5%.