Comment on US retail sales rise in July, aided by autos and restaurants

US retail sales rise in July, aided by autos and restaurants

July's increase suggests that the combination of solid hiring and cheaper gasoline is contributing to rising consumer confidence and spending after a muted start to 2015. Greater retail sales could help boost overall economic growth, since consumer spending accounts for the majority of economic activity. Purchases at auto dealers increased 1.4 percent last month, while restaurants and building materials stores both recorded a 0.7 percent gain.

 

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