U.S. Economy: Sales Rose in July by Most in Four Months

Retail sales in the U.S. climbed in July by the most in four months, showing consumers were holding up at the start of the third quarter.

The 0.5 percent increase reported by the Commerce Department in Washington today followed a 0.3 percent gain in June that was larger than previously estimated. Another report showed that sentiment plunged this month amid stock-market declines and the threat of a default on the national debt.