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US retail sales rise as American consumer shows optimism

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Retail sales grew again in July, up 0.7%, building on a 0.3% rise the month before.

The data, released by the Commerce Department last week, showed consumer optimism and potential signs that that concerns over economic growth weakening are not effecting the consumer.

Online retailers were among those who showed strong growth across the month of July.

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A report from ABC News detailed how consumer spending, the primary driver of the U.S. economy, appears healthy despite expert predictions of a looming recession.

Jobs growing at a steady rate along with unemployment at a 50-year low have been outlined as potential contributing factors to the positive attitude in the American consumer.

ABC News went on to describe how sales mostly made up of online retailers jumped 2.8% last month, the largest increase since January.

Department stores also reported strong sales growth.

Earlier this month, WatchPro reported on how retail imports remained at near record level highs despite Trump tariffs.

Read the full story here:

Retail imports remain at near-record highs despite Trump tariffs

Tags : consumerretail
Alex Douglas

The author Alex Douglas

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