News

July sales up for retailers

U.S. retail sales were up in July as more people bought cars and a variety of other products

August 14, 2015

The Commerce Department has good news for retailers this week when it reported that U.S. retail sales were up in July as more people bought cars and a variety of other products. Retail sales increased 0.6 percent last month, which beat economists’ prediction of core retail sales rising 0.5 percent in July, according to Reuters.

June's retail sales were also revised, showing that they were unchanged instead of the previously reported 0.3-percent drop.

Those numbers should strengthen expectations of a Federal Reserve interest rate hike as early as next month.