U.S. retail sales rose by the most in four months and exceeded projections in July on a surge in online purchases, signaling consumer spending continues to prop up the expansion. The value of overall sales climbed 0.7% after a downwardly revised 0.3% increase in the prior month, according to Commerce Department figures released Thursday. The reading topped all estimates in a Bloomberg survey of economists that had called for a 0.3% gain. Sales in the “control group” subset, which some analysts view as a more reliable gauge of underlying consumer demand, rose 1% and also topped the most optimistic projection after a ... (full story)