US retail sales rise 0.5pc in July

(Sharecast News) - US retail sales rose as expected in July, according to advance figures from the Census Bureau, up 0.5% last month, extending June's 0.6% rebound. Excluding autos, core retail sales increased by 0.3%, also in line with expectations, suggesting a slight moderation in discretionary spending last month. On an annualised basis, total sales were up 5.9%, buoyed by back-to-school purchases and extended summer discounting.

Automobiles remained a key driver for the second consecutive month, while non-store retailers and food services also posted gains.

July's retail sales figures come as market participants increasingly price in a September rate cut from the Federal Reserve, with softer inflation readings and a cooling labour market supporting the case for monetary easing.

However, signs of spending fatigue and cautious consumer behaviour, particularly among lower-income households, continue to temper the outlook.









Reporting by Iain Gilbert at Sharecast.com