U.S. retail sales record biggest increase in seven months

“U.S. retail sales recorded their biggest increase in seven months in July as consumers boosted purchases of motor vehicles as well as discretionary spending, suggesting the economy continued to gain momentum early in the third quarter,” CNBC reports. “The Commerce Department said on Tuesday that retail sales jumped 0.6 percent last month. That was the largest gain since December 2016 and followed June’s upwardly revised 0.3 percent rise.”

“Economists polled by Reuters had forecast retail sales increasing 0.4 percent in July,” CNBC reports. “May’s retail sales were also revised up to show no change instead of the previously reported 0.1 percent dip. Retail sales increased 4.2 percent in July on a year-on-year basis.”

“Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased at a 2.8 percent annualized rate in the second quarter,” CNBC reports. “That boosted GDP growth to a 2.6 percent rate in the April-June period.”

Read more in the full article here.

MacDailyNews Take: Christmas in July!

SEE ALSO:
Apple Retail Stores are saving many shopping malls from death – August 4, 2017
Apple by far the No. 1 retailer in sales per square foot, nearly double those of Tiffany & Co. – July 27, 2017

50 Comments

        1. Actually the idiots are the ones that went out and bought useless bomb shelters thinking that Kim Jong-Un would be stupid enough to attack. It’s a win-win, both nations get to be radioactive free zones for now.

            1. No they are too busy taking care of the refugees coming from your country. Apparently the cost of removing the stars and skid marks from the assholes of those refugees is quite substantial so it will be taken into consideration. After all they are taking refugees that no one else in the world wants.

            2. fine, if you want illegal invaders that defy immigration laws, you’re welcome to them…our country is taking its borders back.

              PS: Canada is DEAD LAST in its NATO obligation. Get with it and pay up, deadbeats.

            3. PSS your nation is first when it comes to betraying the Universal Declaration of Human Rights. Maybe if your country cleans up their act Canada will make a point of cleaning up theirs.

              Mind you I’d rather deal with a nation that is a bit behind on their rent than a terrorist one that is a Benedict Arnold to humanity.

            4. That’s right, failure to answer a simple question about whether or not you bought a bomb shelter yet, a feeble attempt at distracting using NATO and a heh. Thanks for playing. Chalk up another win for the free and civilized world. While the other guys are trying to get great again the free and civilized world keeps getting greater and greater and greater.

            5. Yes and know it’s a fantastic win for your country to actually see someone answer a straight forward question. I savor that I really do. Of course it’s a bit sad that you did not buy a bomb shelter. You should be out there helping your economy and your nation’s paranoia. A few more million of those answers though and who knows, your nation might be great again. I won’t be holding my breath though.

              Now I’m off helping the free and civilized world be greater and greater and greater.

            6. well, why you’re out there, tell Pajama Boy Trudeau to pay-up his debt, us and the rest of NATO are tired of financing their defense.

            7. You sound like a drunk, we’ve been over this. Bring your shrub to the Hague to answer for acts against humanity, get your sorry asses out of Iraq, stop the torture, and other things that would make your country really great then maybe he’ll talk. I think he’s planning to pay you in the stars and skid mark flags anyway from all those refugees from your country.

              I really should not say this but word is that they might try a force breeding program between repubikkkans and demoncrats. Not sure what they are going to call them, maybe reptards.

            8. we sure have been over this before, except you do not retain information: you have NEVER seen a post by me ever defending ANY Bush…all the way back to Nazi financier Prescott.

            9. I’ve never said you have defended the shrub. That doesn’t mean he hasn’t committed acts against humanity. You defend the chump though. Enjoy your Gitmo on the Bay Resort, he’s keeping it open the scum. So much whinning.

        2. No. Amazon wins again. As brick & mortar retail continues to struggle, Amazon has taken over a huge slice of the pie. And with Prime Day coming in July, it has merely shifted what would have been healthy August back to school sales to the first half of the year. This trend has become clear the last several years.

          I’m not here to argue, but no Trump poliy has anything to do with the continued Amazon freight train gathering steam. And you will not likely see a huge spike in overall sales in the 3rd quarter of the year unless Apple actually delivers its new phones on time. If supply is constrained, then there will be a dip before the holiday boom.

          Let’s not forget that auto sales are weak. Should we attribute this to the president too? Doesn’t the president take responsibility for the individual success or failure of each individual company?

    1. You do know, of course, that economic policies takes months, and even longer, to have an effect. Don’t you recall that the last great recession was identified …12 months after the fact? Yet the stock market goes up, or retail sales are up, and you immediately attribute the result to Heil Trump ! As if no other trends or issues could possibly be at play.

      And you readily dismiss climate change as a hoax, yet immediately accept any “post hoc ergo propter hoc” economic data as proving cause-and-effect ? You are very inconsistent.

      1. oh, of course, and Little Fat Boy would NEVER have backed down if it weren’t for the mighty decisiveness of The Muslim Usurper’s foreign policy, that also just “kicked-in.”

        1. I don’t remember what psychologists call it — but you pointed it out HYPOCRITE GRANDE in your “cherry pick” response.

          In my college psych class I do remember a cartoon vividly with two groups of five guys standing around in front of campus. Both groups were dressed exactly the same, hairstyles, etc. Imagine the freaks vs. the nerds.

          The caption to the cartoon was along the lines of one guy complaining to his group that the other group all dressed and acted the same …

  1. “Christmas in July!”

    For the stock market. It has gone up some 3K points on bad economic news. As for main street who has seen another weak 2016 holiday season, big three auto sales down the last 7 months and some 3400 store closings, not so much

    If retail sales are up, it is only becasue so many stores closed there are fewer stores so more people visit the few stores

      1. There must not be any Sears, Kmarts, Macy’s or JC Penny’s in your area. Since the beginning of 2017 about 3400 stores have closed not to mention stores filing for bankruptcy protection. While others look for buyers. Home ownership is the lowest since the mid 1960’s. Feel good about that.

      2. “U.S. retail sales record biggest increase in seven months”

        After some 3,400 store closing since the beginning of 2017, individual store sales are bound to increase as there are fewer stores.

    1. That is a stupid comment if retail sales are up it has nothing to do with the number of stores. The quantity of stores just to makes it easier for people to have access to them

    1. That commie red hat is made in China as Trump tells dumb white people China is stealing US jobs. Who put a gun the heads of manufactures making them to move to China. That’s greed for you.

        1. “The baseball-style “Make America Great Again” hats are indeed stitched together at a small factory in the Los Angeles area. But in a small sample tested by The Associated Press and an outside expert, at least one did not contain the specific type of U.S.-made fabric the manufacturer insists is always used for the hats.

          The true origin of the fabric in that hat remains a mystery — whether U.S. or foreign made. It shows how difficult and murky it can be to verify ”
          http://www.pbs.org/newshour/rundown/are-trumps-made-in-usa-hats-really-made-in-usa/

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