July, U.s. Economy | featured news

Orders for long-lasting goods posted the strongest gain of the year in July due to demand for cars and airplanes, though weakness continued outside the transportation sector.

Americans boosted their spending at retail businesses in July by the largest amount in five months, a surge that could help lift the economy out from its slump. From cars, electronics and sporting goods to furniture, building supplies and garden equipment, every major category of spending rose last month. It was a heartening start to the second half of the year after consumers had reduced their retail spending in each month of the April-June quarter.

Consumer confidence unexpectedly rose in July as Americans were more optimistic about the short-term outlook than they were about their current conditions, according to a private sector report released on Tuesday.