Retail sales rose in June for third straight month
Washington, DC CNN —
Spending at US retailers rose in June for the third month in a row, in a subdued show of resilience from American consumers.
Retail spending, which is adjusted for seasonality but not inflation, rose 0.2% in June, the Commerce Department reported Tuesday. That was a slower pace than last month’s revised 0.5% increase and below economists’ expectations of a 0.5% gain, according to Refinitiv.
The figures add to signs that US consumers are still opening up their wallets amid higher interest rates, stubborn inflation and lingering economic uncertainty. Whether or not that momentum persists beyond the summer remains to be seen.
This story is developing and will be updated.
Source: CNN
