US consumers increased retail spending in July, with higher prices and interest rates, reflecting strong consumer confidence.
US consumers increased retail spending in July, facing higher prices and interest rates, indicating strong consumer confidence amidst economic challenges. This spending boost, the highest in 18 months, has eased concerns of economic weakening. Americans' willingness to spend more, despite financial constraints, suggests businesses' discounts and promotions may be mitigating inflationary pressures.
August 15, 2024
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