Economics
U.S. Retail Sales Surge Higher in June To Pre-Pandemic Levels
- June gain of 7.5% follows upwardly revised record jump in May
- Ten of 13 major retail categories showed a pickup last month
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U.S. retail sales exceeded forecasts in June for a second straight month as more businesses reopened and expanded jobless benefits padded the wallets of the unemployed.
The value of retail purchases increased 7.5% from the prior month after an upwardly revised record 18.2% surge in May, according to Commerce Department data out Thursday. The median estimate in a Bloomberg survey of economists called for a 5% gain for June.