"Retail sales rose a better-than-expected 0.6% in June after declining 0.9% in May, indicating significant strength in consumer spending despite previous declines."
"Heather Long stated, "Don’t count the American consumer out yet. There’s still a lot of trepidation about tariffs and likely price hikes, but consumers are willing to buy if they feel they can get a good deal.""
Retail sales rose 0.6% in June, recovering from a 0.9% drop in May. Excluding autos, sales increased by 0.5%. Strong growth was seen in clothing, health care, and restaurant sales, although electronics and department stores faced declines. Heather Long emphasized that despite tariff-related trepidation, consumer confidence remains strong. Inflation also rose to 2.7% annually in June, spurred by tariffs affecting various goods. Consumers are increasingly prioritizing essentials when shopping, influenced by overall economic conditions and pricing concerns.
Read at Fortune
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