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Retail sales increased 0.7% in July, better than expected as consumer spending is holding up (www.cnbc.com)

submitted 1 year ago by [email protected] to c/[email protected]

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The advanced retail sales report showed a seasonally adjusted increase of 0.7% for the month, better than the 0.4% Dow Jones estimate. Excluding autos, sales rose a robust 1%, also against a 0.4% forecast. Both readings were the best monthly gains since January.

It seems as long as consumer spending remains strong the risk of recession is low despite the rapid Fed rate hikes.

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