US retail sales up solidly in a sign of consumer optimism

WASHINGTON — U.S. consumers spent more at retail stores and restaurants in July, a sign that concerns over slower global growth that have roiled financial markets haven't dampened consumer confidence.

The Commerce Department says retail sales rose a healthy 0.7% last month, after a 0.3% gain in June. Online retailers, grocery stores, clothing retailers and electronics and appliance stores all reported strong gains.

Consumer spending, the primary driver of the U.S. economy, remains healthy even as other sectors of the economy, such as business investment, have weakened amid growing uncertainty over the U.S.-China trade war. Job growth is steady, the unemployment rate is near a 50-year low, and wages are rising modestly, which bolsters Americans' spending power.

Even department stores reported solid sales increases despite Wednesday's anemic earnings report by Macy's.

You may also interested in

Self-driving cars go public; Uber offers rides in Pittsburgh

Aug 18, 2016

The option to hail a ride in a self-driving car will soon be available to Uber users in Pittsburgh

Beer mega merger: what court ruling means for troubled deal

Aug 23, 2016

A British court has recommended that two classes of shareholders be created and vote separately on AB InBev's 79 billion pound ($104 billion) takeover of SABMiller

How EpiPen's maker raised prices, and hackles, so much

Aug 23, 2016

Sky-high price hikes for an emergency allergy medicine are making drugmaker Mylan the latest target for patients and politicians infuriated by soaring drug costs

People also read these

Officials: Zika won't hurt South Florida tourism in long run

Aug 20, 2016

The discovery of Zika-carrying mosquitoes in South Florida certainly isn't ideal for tourism, but local officials and business leaders are confident the long-term impact on the tourism industry will be minor

WhatsApp is going to share your phone number with Facebook

Aug 25, 2016

Global messaging service WhatsApp says it will start sharing users' phone numbers with Facebook, its parent company

Over 40 pct. of VW owners seek emissions cheating settlement

Aug 29, 2016

About 210,000 owners of Volkswagens with 2-liter diesel engines that cheat on emissions tests have registered to settle with the company under the terms of a June court agreement

Emporium Post fulfils the need to know all things about consumers and how businesses can take this opportunity to reach their own customers.

Contact us: sales@emporiumpost.com

Join our mailing list now!