{"id":2001086,"date":"2023-08-15T10:54:01","date_gmt":"2023-08-15T14:54:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-retail-sales-increase-more-than-expected-in-july\/"},"modified":"2023-08-15T10:55:58","modified_gmt":"2023-08-15T14:55:58","slug":"us-retail-sales-increase-more-than-expected-in-july","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-retail-sales-increase-more-than-expected-in-july\/","title":{"rendered":"US retail sales exceed expectations in July."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fus-retail-sales-increase-more-than-expected-in-july%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2001086&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div data-post-content=\"true\" class=\"post_content\" id=\"post_content\">\n<h2>U.S. Retail Sales Exceed Expectations, Pointing to\u2064 Economic Expansion<\/h2>\n<p>WASHINGTON\u2014In a positive sign for the economy, U.S. retail sales saw\u2064 a \u2063greater-than-expected increase in July. \u200cAmericans&#8217;\u200b online purchases and dining out contributed to the boost, keeping\u200d a recession at bay in the early third quarter.<\/p>\n<p>The Commerce Department reported\u200b a 0.7 percent jump in retail sales last month, with June&#8217;s data also revised higher to show a 0.3 percent increase instead of\u2063 the previously reported 0.2 percent.<\/p>\n<p>Economists polled by Reuters had predicted a 0.4 percent \u200cclimb in retail sales. It&#8217;s \u200cworth noting that these figures do not\u2064 account for inflation and were \u2063likely influenced by Amazon&#8217;s \u2064Prime Day promotion in the\u200c previous month.<\/p>\n<div class=\"shortcode\">\n<div class=\"mb-4 mr-4 w-full max-w-[500px] border border-[#D3D3D3] px-5 py-4 text-[16px] leading-[20px] text-[#262626] md:float-left\">\n<div class=\"mb-3 font-sans text-[16px] font-semibold uppercase leading-[19px] text-[#2F2F2F]\">Related Stories<\/div>\n<div class=\"mb-4 flex gap-2\">\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-2\"><a href=\"http:\/\/www.theepochtimes.com\/opinion\/weve-entered-the-doom-loop-of-deficit-debt-inflation-5465433\">We\u2019ve Entered the Doom Loop of Deficit\u2013Debt\u2013Inflation<\/a><\/div>\n<div class=\"text-[14px] leading-[18px] text-[#737373]\">8\/15\/2023<\/div>\n<\/p><\/div>\n<div class=\"shrink-0 basis-[120px]\"><a href=\"http:\/\/www.theepochtimes.com\/opinion\/weve-entered-the-doom-loop-of-deficit-debt-inflation-5465433\"><\/a><\/div>\n<\/p><\/div>\n<div class=\"mb-4 flex gap-2\">\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-2\"><a href=\"http:\/\/www.theepochtimes.com\/us\/us-economy-on-the-right-track-yellen-says-on-1-year-anniversary-of-inflation-reduction-act-5465902\">US Economy \u2018On the Right \u200dTrack,\u2019 Yellen Says on 1-Year Anniversary of Inflation\u2064 Reduction Act<\/a><\/div>\n<div class=\"text-[14px] leading-[18px] text-[#737373]\">8\/15\/2023<\/div>\n<\/p><\/div>\n<div class=\"shrink-0 basis-[120px]\"><a href=\"http:\/\/www.theepochtimes.com\/us\/us-economy-on-the-right-track-yellen-says-on-1-year-anniversary-of-inflation-reduction-act-5465902\"><\/a><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>The demand for goods has remained strong despite\u2062 the Federal Reserve&#8217;s efforts to control inflation through interest\u200b rate \u2062hikes. This can be attributed to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-retail-sales-increase-more-than-expected-in-july\/\" title=\"US retail sales exceed expectations in July.\">significant \u2062wage gains resulting<\/a> from\u200c a tight labor market.<\/p>\n<p>As inflation recedes, consumers&#8217;\u2062 purchasing power is increasing. Additionally, households\u200d are taking on debt to finance their \u200bpurchases.<\/p>\n<p>While lower-income households have depleted their excess savings accumulated during the COVID-19 pandemic, there is still a substantial amount of money set aside to support consumer spending.<\/p>\n<p>With inflation on the \u2063decline, most economists believe \u2063that the\u2063 Federal \u2062Reserve\u200c is unlikely to raise rates further. In fact, there is growing support for the idea that the central bank could guide the economy toward a &#8220;soft landing&#8221; instead of the recession that had been predicted \u2062since last year.<\/p>\n<p>Since March 2022, the Fed\u200c has raised its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/unemployment-rate-rises-for-first-time-in-a-year\/\" title=\"Unemployment Rate Rises for First Time in a Year\">benchmark overnight interest rate<\/a> by \u200d525 basis points, bringing it \u200dto the current range of 5.25 percent\u20135.50 percent.<\/p>\n<p>Excluding automobiles, gasoline, building materials, and food services, retail sales surged 1.0 percent in July. June&#8217;s data was revised downward to show a 0.5 \u200bpercent increase in these \u200d<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-retail-sales-beat-expectations-manufacturing-production-slumps\/\" title=\"U.S. retail sales beat expectations; manufacturing production slumps\">core retail sales<\/a> instead of the previously\u2062 reported 0.6 percent.<\/p>\n<p>Core retail sales closely align with the consumer spending component of the gross domestic product, which accounts \u2064for\u200d more than two-thirds of the U.S. economy. Although consumer spending slowed in \u200bthe second quarter compared to the robust pace of the first quarter, the increase \u200bwas sufficient to guide the economy to\u200c a 2.4 \u2062percent annualized growth.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>that retail sales rose 0.3 percent instead of the previously reported 0.2 percent. The increase in July was driven by strong gains in online sales and spending at restaurants, indicating a positive economic growth in the third quarter and preventing a recession.<\/p>\n","protected":false},"author":66,"featured_media":2001087,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2001086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2001086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2001086"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2001086\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2001087"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2001086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2001086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2001086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}