U.S. retail sales rose 7.5% in June, vs 5.0% increase expected
From cnbc.com
U.S. retail sales increased more than expected in June, but the budding economic recovery is being threatened by a resurgence in new Covid-19 infections and high unemployment. The Commerce Department said on Thursday retail sales rose 7.5% last month. That was on top of the 18.2% jump in May, which was the biggest gain since the government started tracking the series in 1992. Economists polled by Reuters had forecast retail sales advancing 5% in June. Retail sales have rebounded as businesses resumed operations after being shuttered in mid-March in an effort to slow the spread of the coronavirus. But new cases of the ...
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