Economics
US Retail Sales Little Changed Last Month as Fuel, Autos Drop
- Excluding gas and autos, value of purchases rose 0.7% in July
- Other categories suggest consumer spending remains resilient
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US retail sales stagnated last month on declines in auto purchases and gasoline prices, though gains in other categories suggested consumer spending remains resilient.
The value of overall retail purchases was flat last month after a revised 0.8% jump in June, Commerce Department data showed Wednesday. Excluding gasoline and autos, retail sales rose a better-than-expected 0.7%. The figures aren’t adjusted for inflation.