U.S. retail sales posted a robust growth in July, signaling that American consumers remain resilient despite rising import prices and ongoing concerns over President Donald Trump‘s trade tariffs.
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Retail and food service sales rose 0.5% month-over-month to a seasonally adjusted $726.1 billion in July, according to the U.S. Census Bureau. That marked a 3.9% year-over-year increase and aligned with economists’ forecasts.
June’s sales data was revised upward significantly, from a preliminary 0.6% gain to a final 0.9% increase. The revision pushed June’s year-over-year growth to 4.4%.
Where Did Americans Spend More?
Spending in July was broad-based, with the strongest gains concentrated in motor vehicles and parts dealers, which saw a 1.6% monthly increase, and furniture and home …