{"id":127955,"date":"2019-07-16T17:10:23","date_gmt":"2019-07-16T17:10:23","guid":{"rendered":"https:\/\/www.bnreport.com\/us-retail-sales-beat-expectations-as-economy-blows-hot-and-cold\/"},"modified":"2019-07-16T17:10:23","modified_gmt":"2019-07-16T17:10:23","slug":"us-retail-sales-beat-expectations-as-economy-blows-hot-and-cold","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/us-retail-sales-beat-expectations-as-economy-blows-hot-and-cold\/","title":{"rendered":"US retail sales beat expectations as economy blows hot and cold"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.cityam.com\/wp-content\/uploads\/2019\/07\/GettyImages-1064621102.jpg\" \/><\/p>\n<p>US retail sales beat economists expectations in June, official figures showed today, as the economy continues to send mixed signals to policymakers at the Federal Reserve.<\/p>\n<p><strong>Read more:<\/strong> <a href=\"https:\/\/www.cityam.com\/us-economy-adds-just-75000-jobs-in-may-and-wage-growth-slows\/\" rel=\"noreferrer noopener\" target=\"_blank\">Dollar falls as US economy adds just 75,000 jobs in May and wage growth slows<\/a><\/p>\n<p>American shoppers bought 0.4 per cent more goods in June than they did in May, according to the US Census Bureau. This was significantly higher than the 0.1 per cent foreseen by economists.<\/p>\n<p>Sales in June were 3.4 per cent higher than a year earlier. Month-on-month sales growth for May was revised down 0.1 percentage point to 0.4 per cent, meanwhile.<\/p>\n<p>The closely-watched figures come a week after Fed chair Jay Powell boosted the markets expectations that the first interest rate cut in ten years will come this month.<\/p>\n<p>He gave a gloomy testimony to a congressional committee in which he warned \u201ctrade tensions and concerns about global growth have been weighing on economic activity and the outlook\u201d in the US.<\/p>\n<p>Domestically, business investment has slowed notably while manufacturing output continued to decline, Powell said. He said there was \u201ca risk that weak inflation will be even more persistent\u201d than previously thought.<\/p>\n<p>But todays retail figures suggest low levels of unemployment and rising wages are helping consumers maintain their spending levels, boosting the economy.<\/p>\n<p>US retail sales grew by 0.7 per cent when the volatile motor vehicle and gas sales were removed, compared to economists predictions of 0.5 per cent. The Fed focuses on this reading as a reliable indicator of consumer spending.<\/p>\n<p>Erik Norland, senior economist at global mark<a href=\"https:\/\/www.cityam.com\/us-retail-sales-beat-expectations-as-economy-blows-hot-and-cold\/\" rel=\"noreferrer noopener\" target=\"_blank\"><strong>Read More \u2013 Source<\/strong><\/a><br \/>\n[contf]<br \/>\n[contfnew]<br \/>\n        <img decoding=\"async\" src=\"https:\/\/loopup.com\/app\/uploads\/2016\/08\/cityam-logo.jpeg\" \/><\/p>\n<h5><a href=\"http:\/\/www.cityam.com\/\" rel=\"noreferrer noopener\" target=\"_blank\">CityAM<\/a><\/h5>\n<p>[contfnewc]<br \/>\n[contfnewc]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US retail sales beat economists expectations in June, official figures showed today, as the economy ..<\/p>\n","protected":false},"author":1,"featured_media":127956,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":["post-127955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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