July Retail Sales Rebound, Up 3.5 Percent Over 2016

Aug 17, 2017, 12:34
July Retail Sales Rebound, Up 3.5 Percent Over 2016

"This means that not only is the second quarter personal consumption expenditures probably going to be revised higher from an already strong 2.8%, but that the expectations for PCE during the third quarter are also going to be marked up going forward", he said.

Meanwhile, department stores had their best month since January, rising a full percentage point over June, perhaps easing some fears that brick-and-mortar outlets are facing collapse as consumers switch to internet shopping.

Overall retail sales increase 0.6% from June.

Americans spent more freely in July and upward revisions to sales in the prior two months show strong hiring, limited inflation and low borrowing costs are improving purchasing power.

"Soft or declining prices for retail goods continue to hold down the dollar amount of sales reported even though unit volume was up", Kleinhenz said.

Retail sales have been very underwhelming this year which has contributed to the view that the economy isn't ready for another rate hike this year. The revised numbers reflected newly incorporated sales data.

Netanyahu's former aide to testify in bribery case
Netanyahu must transfer the call log to Channel 10 and Drucker within 15 days. Netanyahu has denied wrongdoing, calling the allegations a witch hunt.

Jose Mourinho's Top Second Season Signings
Meanwhile, Ausilio said there was "no chance" of a move for Bayern Munich midfielder Arturo Vidal. We are talking with them but eventually he could remain at Inter.

Tesla cash burn condoned as Musk focuses on electric future
Tesla produced 25,708 vehicles in the second quarter, up 40% from the same period a year earlier. Consensus estimates now stand at adjusted losses of $1.88 per share on $2.5 billion in sales.

The print for June was originally pegged at a 0.1% dip on the month.

Excluding automobiles, gasoline, building materials and food services, retail sales surged 0.6 per cent last month after an upwardly revised 0.1 per cent gain in June.

"Admittedly, that was in part due to a 1.3% surge in non-store sales, presumably reflecting Amazon's Prime Day, which reportedly saw U.S. orders rise 50% from the same event a year ago".

The index of business activity rose to a three-year high of 25.2, a striking gain on July's 9.8 and well clear of the consensus estimate of 10. There were sales gains in other areas, including furniture stores, hardware stores and restaurants.

Excluding cars, retail sales still rose 0.5 per cent, while leaving out the volatile gasoline segment, sales were up 0.7 per cent.

Electronics and appliances stores decreased 0.5 percent seasonally adjusted from June and decreased 1.4 percent unadjusted year-over-year.

YOU MIGHT ALSO LIKE
  • United States  and Russian Federation  chief diplomats show 'readiness' to talk despite escalating tensions

    United States and Russian Federation chief diplomats show 'readiness' to talk despite escalating tensions

    The House of the Representatives and the US Congress legislated the sanctions law which was signed by President Donald Trump . Justice Department investigation is moving ahead into Russia's election interference and potential Trump campaign collusion.

    Samsung Galaxy Note 8: Its design confirmed by a promotional image

    However, other things will remain same - Snapdragon 835, 4GB RAM, 4,000 mAh battery and may be camera as well. A few days ago, noted leaker and VentureBeat contributor Evan Blass leaked the "final specs" of the Note 8.
    3.3 magnitude natural disaster  rattles residents in Oklahoma City metro

    3.3 magnitude natural disaster rattles residents in Oklahoma City metro

    The quakes struck Tuesday night and Wednesday just east of Edmond, about 15 miles (24 kilometers) northeast of Oklahoma City. The city of Edmond says power has been restored to two electric substations after a magnitude-4.2 quake rattled the area.
  • Spain Should Make Improvements to Be Ready for Migration Inflow

    Spain Should Make Improvements to Be Ready for Migration Inflow

    A Spanish guard can be seen breaking his lower leg while attempting to kick one of the charging migrants. However, Spain has become an increasingly attractive route for migrants and smugglers this year.
    Taylor Swift Takes the Stand in Trial Over Groping Allegation

    Taylor Swift Takes the Stand in Trial Over Groping Allegation

    He instigated the legal battle, suing the pop star for $3 million United States dollars in damages. Taylor is counter-suing, claiming assault and battery for "offensive and harmful physical contact".
    Trump Signs Russian Sanctions But Calls Bill 'Seriously Flawed'

    Trump Signs Russian Sanctions But Calls Bill 'Seriously Flawed'

    Sekulow didn't immediately respond to a request for comment made through his spokesman, Gene Kapp. The last line of the President's statement drew some interest as well.
  • DK Shivakumar says he knew raids were coming

    DK Shivakumar says he knew raids were coming

    Karnataka Chief Minister K Siddaramaiah on Wednesday had condemned the raids as politically motivated. In a bid to avoid horse-trading the Congress holed up the MLAs in the Bengaluru resort.
    Treasurys Strengthen as BOE Keeps Rates Steady

    Treasurys Strengthen as BOE Keeps Rates Steady

    But a raft of weaker data - as well as deep uncertainty about the impact of Brexit - called that view into question. Against the euro, sterling GBPEUR, -0.8070% slid to €1.1073, trading around its lowest level since November.
    Dolphins' Tannehill injured after awkward fall in practice

    Dolphins' Tannehill injured after awkward fall in practice

    Miami Dolphins quarterback Ryan Tannehill was injured Thursday morning during practice at the team's training camp . The Dolphins finished second in the AFC East previous year and made the playoffs for the first time since 2008.
  • Sharapova to play first major in 18 months at US Open

    Sharapova to play first major in 18 months at US Open

    The 30-year-old won the US Open in 2006 and last played there in 2014, but will be unseeded for this year's event in NY . Upon her comeback she was denied a wild card for both the main draw and qualifying into the French Open .
    Premier League Summer Transfer Window to Close Before Start of Next Season?

    Premier League Summer Transfer Window to Close Before Start of Next Season?

    Albion agree with plans for the summer transfer window to close for Premier League clubs before the start of next season. However, clubs from other European leagues could sign players from England in line with their own domestic deadlines.

    The 5: Things to watch in Cardinals' preseason opener

    Deone Bucannon's ankle injury has led to an accelerated learning camp for 13th overall pick, Haason Reddick . These two teams will meet each other again early in the regular season at the end of September.
popular