Sales in retail From USA unexpectedly rose in June as demand for goods remained strong, even as spending returned to the services, which raises expectations of an acceleration of economic growth in the second quarter.
Will politics continue setting the tone in the stock market? Go. And you can take advantage of the opportunities. Learn to invest with EXAME Academy
Retail sales rose 0.6% last month, the Commerce Department said on Friday. May data has been revised downwards to show that sales are down 1.7%, instead of the 1.3% drop as previously reported.
Economists polled by Reuters had expected a 0.4% drop in retail sales. But vehicle shortages due to a global squeeze in semiconductor supply, which has slowed production, is hurting auto sales.
The sale of some home appliances was also impacted by shortage of chips.
Understand more about economic indicators. Sign the EXAM.