US Retail Sales Increase in July as Consumer Demand Holds Steady

U.S. consumers continued opening their wallets this summer as spending at the retail level increased for the second consecutive month, new data show. Retail sales rose by 0.5 percent in July following an upwardly adjusted 0.9 percent increase in June, according to advance estimates from the Department of Commerce’s Census Bureau released on Aug. 15. As consumer sentiment cratered this past spring, retail sales declined by 0.1 percent in April and by 0.9 percent in May. Consumer confidence has since rebounded, with the Trump administration’s trade policy stabilizing after reaching peak uncertainty four months ago. Last month’s reading was in line with the consensus estimate. The numbers are seasonally adjusted but not changed for inflation....