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8/15, 2:30 PM (Source: TeleTrader)
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US retail sales up by 0.7% in July

The value of retail and food services sales in July reached $523.5 billion, an increase of 0.7% monthly and 3.4% annually unadjusted for price changes, according to an advance estimate from the United States Census Bureau released on Thursday. In the three months through July, retail sales rose 3.3% year-over-year, with the increase in May and June revised down by 0.1 percentage points to 0.3%.

The data showed an increase of 3.4% in retail trade sales for the last reported month, compared to the same month a year ago, and 0.6% compared with June. The largest contribution came from non-store retailers who experienced growth of 16% on a yearly basis. Sales in miscellaneous stores added 6% in the same period, the report noted.

Breaking the News / NI