Retail sales jumped more than expected last month
CNN
Americans are still opening their wallets, even as President Donald Trump’s tariffs start to take a bite.
Americans are still opening their wallets, even as President Donald Trump’s tariffs start to take a bite. Retail sales rose 0.6% in June from the prior month, the Commerce Department said Thursday, rebounding from the steep 0.9% decline in May. June’s number was much stronger than the 0.2% gain economists projected in a FactSet poll. The figures are adjusted for seasonal swings but not inflation. Investors and economic policymakers are keeping a close eye on whether Americans continue to spend as Trump’s tariffs begin to push up prices, since consumer spending powers about two-thirds of the US economy. This story is developing and will be updated.
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