US retail sales flat in June, defying decline forecasts; online sales up 1.9%.
US retail sales remained flat in June, following a 0.3% growth in May. This trend suggests that increasingly discerning consumers continue to spend at a resilient pace, defying forecasts of a slight decline. Economists anticipate that the Federal Reserve will still cut interest rates at its September meeting, unless circumstances change significantly. Key areas of strength included online sales, which increased by 1.9%, and clothing and accessories store sales, which rose by 0.6%.
July 16, 2024
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