Economic news

U.S. retail sales recorded firm growth in June

June’s retail sales in the United States strongly added, propelled by cars sold in bigger numbers, as well as other products, which confirms forecasts of a vigorous economic expansion in April-June.

In the previous month retail sales grew 0.5%, said today’s data by the Commerce Department. May’s figures were revised up to 1.3% hike in sales, whereas the preceding reading had been 0.8% rise.

The sales upping in May was the highest since September last year. And though May’s data was revised higher, core retail sales of June remained the same, which seems to mean that consumer spending showed no advancement in the April-June quarter.

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