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US retail sales beat expectations in June

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US Retail sales rose higher than expected in June as consumers shopped for motor vehicles and other goods, even as they paid more for gasoline.

Retail sales rose 1.0% last month, the Commerce Department said on Friday. Figures for May were revised to show that sales were down 0.1%, rather than the 0.3% decline previously reported.

Economists polled by Reuters were forecasting a 0.8% increase in retail sales, with forecasts for a 2.2% increase from a 0.2% decline. Retail sales consist primarily of merchandise and are not adjusted for inflation.

US consumer prices rose 9.1% year-on-year in June, the biggest increase since November 1981, putting the Federal Reserve on track to hike the interest rate further to 0.75 percent later this month. , Since March, the US central bank has raised interest rates by 1.50 points.

Gasoline prices rose by an average of $5 a gallon in June, according to data from the American Automobile Association (AAA). But they have since fallen from last month’s record highs and averaged $4.577 a gallon on Friday.

Retail sales were also boosted by motor vehicle purchases following the pressure of shortages.

Excluding automobiles, gasoline, building materials and food services, retail sales grew 0.8% in June. May’s figures were revised to show that those sales were down 0.3%, not unchanged as previously reported.

Core retail sales are closer to the consumption component of GDP.

About the author: Sarah Gracie

"Proud social media buff. Unapologetic web scholar. Internet guru. Lifelong music junkie. Travel specialist."

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dvddecrypterpro
premierligi
voiceregistrar
hellodelisc
3momsin1
americannoodlebar
bokep
slot88
zonaliga
loxgraph
ushahd
togel4d
veniceroyalmaids
slot88
vernwilliams
livetv102
synfreeware.com
intersoftscripts
scriptsonweb
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barcrudomiami
boxparkmiami
garciaseafood
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topdownloads360
gibmaritime
masterresalerightsempire
vidpart
hothitdownload
labradoraccounting
adutils
liga365
spbo
exclusifpeople
eastwoodzhao
dailymediabuzz
jsmash
realwhidbey
marquessjobs
allweddingthings
careeraction
liga365
spbo
empirecu
prabowogibran2
myxy570
ludazhuang
peacefairapp
milrecetasvegetarianas
dewa4d
littlelighttriad
durhamfillingstation
splendidshabu
restaurant
trattorialuccadining
yellowbirdsoutherntable
chowdowngrill
americannoodlebar
edensouthbeach
jeanpaulshouse
serafinadreamsouthbeach
southstreetmiami
tiklrestaurant
sostapizzeria
gloutonnerie
otentic
vesperbrasserie
georgeskitchenmidtown
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