KEYT on Nostr: Sales at stores are suddenly surging in the US economy’s latest show of strength ...
Sales at stores are suddenly surging in the US economy’s latest show of strength
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Sales at US retailers unexpectedly surged in July, rising by a solid 1% from the prior month, up from June’s downwardly revised 0.2% decline; Retail sales, which are adjusted for seasonal swings but not inflation, make up a sizable chunk of overall spending; Sales jumped across most categories last month, rising the most at car dealerships, which likely reflects a rebound from the cyberattack on software systems that dealerships use earlier this summer; Retail spending on electronics and at grocery stores also rose robustly last month, up by 1.6% and 1%, respectively; The Federal Reserve has kept interest rates at 23-year high for a year now to stamp out price pressures in the economy; Unemployment recently jumped to its highest level since October 2021; Walmart reported that sales at its US stores jumped 4.2% last quarter and its operating income surged 8.5% during the quarter
#UsEconomy #RetailSales #ConsumerSpending #Inflation #InterestRates #Unemployment #Walmart
https://keyt.com/news/money-and-business/cnn-business-consumer/2024/08/15/this-is-the-us-economys-latest-show-of-strength-retail-sales-are-suddenly-surging/
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Sales at US retailers unexpectedly surged in July, rising by a solid 1% from the prior month, up from June’s downwardly revised 0.2% decline; Retail sales, which are adjusted for seasonal swings but not inflation, make up a sizable chunk of overall spending; Sales jumped across most categories last month, rising the most at car dealerships, which likely reflects a rebound from the cyberattack on software systems that dealerships use earlier this summer; Retail spending on electronics and at grocery stores also rose robustly last month, up by 1.6% and 1%, respectively; The Federal Reserve has kept interest rates at 23-year high for a year now to stamp out price pressures in the economy; Unemployment recently jumped to its highest level since October 2021; Walmart reported that sales at its US stores jumped 4.2% last quarter and its operating income surged 8.5% during the quarter
#UsEconomy #RetailSales #ConsumerSpending #Inflation #InterestRates #Unemployment #Walmart
https://keyt.com/news/money-and-business/cnn-business-consumer/2024/08/15/this-is-the-us-economys-latest-show-of-strength-retail-sales-are-suddenly-surging/