Retail sales in U.S. climb 0.5% in July
Retail sales in U.S. climb 0.5% in July (by Jeffry Bartash)
WASHINGTON (MarketWatch) - Sales at U.S. retailers rose 0.5% in July as consumers spent more money on autos, gas, clothing and electronics, according to Commerce Department data. Excluding the volatile auto segment, sales also rose 0.5%. Economists surveyed by MarketWatch expected an overall increase of 0.7% on a seasonally adjusted basis, or 0.3% excluding autos. Sales for June and May, meanwhile, were also revised higher. Over the past three months, retail sales have climbed 8.2% compared to the same period one year ago. Gas sales increased 1.6%, electronics and appliances 1.4%, autos 0.5% and clothing 0.5%. Excluding gas, total retail sales rose 0.3%. Sales fell at department stores, bars and restaurants, leisure and hobby stores and building-materials suppliers. For June, retail sales were revised up to a 0.3% increase from 0.1% originally.
