Consumers Share the Wealth as U.S. Demand Broadens Beyond Autos
- Households buy other goods, services after replacing old cars
- Slump in sentiment post-Brexit unlikely to last as stocks rise
Consumers, Banks as Signs of U.S. Economic Optimism
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American auto dealers had a good run over the first seven years of the current economic expansion. Now it looks like other retailers are benefiting as well.
A stronger-than-forecast 0.6 percent gain in retail sales for June was propelled by growing demand at building-material stores, online merchants and purveyors of sporting goods among others, figures from the Commerce Department showed Friday in Washington. In fact, 11 of the 13 major categories showed gains last month with cars among the smaller contributors.