US retail sales were unchanged in June, beating expectations
July 16, 2024
US retail sales unchanged in June, above expectations.
Retail sales remained unchanged in June, defying Wall Street fears of a slowdown and showing that US consumers continue to spend despite signs of a slowing US economy. Economists had expected a 0.3% decline, according to data compiled by Bloomberg. Meanwhile, Census Bureau data showed that retail sales for May were revised up to 0.3% from an earlier reading of 0.1%. June sales excluding auto and gasoline sales rose 0.8%, above consensus estimates for a 0.2% increase.