Steadfast US Consumer, Job Market Allay Concerns About Economy
- Retail sales increased in July by most since early 2023
- Jobless claims remain low, but manufacturing data are weak
The value of retail sales increased in July by the most since early 2023 in a broad advance that indicates a resilient American consumer.
Photographer: Yuki Iwamura/BloombergThis article is for subscribers only.
Fresh readings on retail spending and unemployment benefits quelled some of the restiveness about the US economy, parts of which remain restrained by elevated interest rates.
The value of retail sales increased in July by the most since early 2023 in a broad advance that indicates a resilient American consumer. Separate government figures on Thursday showed the fewest applications for unemployment benefits last week since early July.