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World Business Report: First broadcast 15/08/2023 21:32 GMT : Retail sales increase in the US

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Retail sales increase in the US

First broadcast 15/08/2023 21:32 GMT 

First broadcast 15/08/2023 21:32 GMT : Retail sales increase in the US

BBC World Service - World Business Report, Retail sales increase in the US

US consumer spending rose more than anticipated in July

US retail sales jumped 0.7% in July 2023, suggesting the economy continued to expand early in the third quarter.

There's more evidence that US consumers are weathering the economic storm and continuing to spend.  Figures show retail sales rose by 0.7% in July which is more than expected. 

It's welcome news for retailers who are struggling with high prices and lower margins, and that’s going to force the Fed to keep the prospect of more rate hikes on the table.

(Picture: Shopping couple walking on street. Picture credit: Getty Images)

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First broadcast 15/08/2023 21:32 GMT : Retail sales increase in the US

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