Consumers opening their wallets as pandemic restrictions ease
CBSN
Americans continued and even increased their spending last month, shifting from expenditures on sporting equipment and building materials, in heavy demand during the pandemic, to restaurant outings and buying electronics.
U.S. retail sales rose a seasonal adjusted 0.6% in June from the month before, the U.S. Commerce Department said Friday. The increase was a surprise to Wall Street analysts, who had expected sales to fall slightly last month. Excluding autos, sales leapt 1.3% in June. The rise came as pandemic-related restrictions loosened across the country, with sales at bars and restaurants up 2.3%, according to Friday's report. Clothing store sales rose by 2.6%, and sales at electronics shops were up 3.3%.
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