Friday, July 27, 2018
US retail sales rose 0.5% in June, Commerce Department figures showed, capping a quarter that probably saw consumer spending pick up after a tepid start to the year. Excluding purchases of autos and gasoline, sales climbed 0.3%. A tight labor market and lower taxes have supported solid gains in household purchases, the biggest part of the economy. Economists expect the pace of gains in household purchases to settle back in coming quarters. Among retailers still reporting monthly sales, L Brands was up 3.0% and Costco was up 9.7%.