US retail sales surge in July
American consumers spent at a brisk pace in July, pushing US retail sales to their biggest increase in seven months, according to preliminary figures released Tuesday.
Auto sales helped drive the mid-summer upswing after sagging for much of the year, posting the biggest gain since December last year.
Long-suffering department stores likewise showed signs of life.
However, cheap gasoline and falling sales of electronics and clothing items still weighed on sales last month.
Comments