U.S. Retail Sales Jump Less Than Expected In July
With a pullback in auto sales partly offsetting strength in other areas, the Commerce Department released a report on Friday showing U.S. retail sales increased by less than expected in the month of July.
The Commerce Department said retail sales advanced by 1.2 percent in July after soaring by an upwardly revised 8.4 percent in June.
Economists had expected retail sales to jump by 1.9 percent compared to the 7.5 percent spike originally reported for the previous month.
Excluding sales by motor vehicle and parts dealers, retail sales surged up by 1.9 percent in July after skyrocketing by 8.3 percent in June. Ex-auto sales were expected to increase by 1.3 percent.