Retail Sales Up Moderate 0.5%
WASHINGTON — Retail sales, led by gains at auto showrooms and clothing stores, rose a moderate 0.5% in July, the government said today.
The Commerce Department said that sales increased $632 million last month to a seasonally adjusted $134 billion. The increase was about in line with the expectations of economists.
Sales last month were led by a 1.9% jump at automotive dealers to $30.1 billion, the biggest climb since February, when auto sales shot up 2%. Automotive sales had climbed a modest 0.4% in June.
Excluding autos, sales were up a scant 0.1% in July.
Sales at department and other general merchandise stores, helped by hot weather related buying, were up 0.2% in July after a strong 1.4% increase a month earlier.
Sales of durable goods, “big ticket” items expected to last three or more years, were up 0.7%, solely on the strength of autos.
Sales at furniture stores were off 1% after a 1.9% increase in June.
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