Reported about 2 months ago
Retail sales in July saw a surprising increase of 1%, significantly surpassing Wall Street's estimate of 0.4%, easing fears of a potential economic slowdown in the US. Adjusted figures showed June retail sales were down 0.2%, and July sales excluding auto and gas grew 0.4%. Leading the gains were motor vehicle and parts dealers with a 3.6% increase. Amidst this positive trend, Walmart also raised its full-year sales forecast, showcasing confidence in consumer spending despite wider economic uncertainties.
Source: YAHOO