Retail Sales Exceed Expectations, Showing Life In The Economy
Retail sales were up .8 percent in July, the largest gain since February.
A separate report showed U.S. producer prices climbing in July at the fastest pace in five months even as energy prices fell.
The retail sales data bolsters the view that the slowdown in economic growth during the second quarter will prove temporary.
“Here comes the U.S. consumer,” said Harm Bandholz, an economist at UniCredit in New York.
“Retail sales did not only rise again in July, they jumped.”