Retail sales in the US increased significantly in June

Retail sales in the US rose by 0.5% in June compared to a rise of 1.3% in May, the Ministry of Commerce said. June growth, which coincided with forecasts of the economists, contributed to an increase in purchases of cars and a number of other goods. In annual terms, sales growth was 6.6%. Sales of cars increased by 0.9% compared to growth of 0.8% in May. Against the backdrop of higher gasoline prices, sales at service stations increased by 1%. In clothing stores, sales fell by 2.5%, noting the biggest drop since February 2017. Sales on the Internet and by mail showed the largest increase since November 2017, increased by 1.3% after an increase of 0.4% in May. Sales in furniture stores grew by 0.6%, in restaurants and bars – by 1.5%.

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