MW:Retail sales rise stronger-than-expected in July
By Greg Robb
WASHINGTON (MarketWatch) - Sales at U.S. retailers increased 0.8% in July to a seasonally adjusted $403.9 billion, the Commerce Department estimated Tuesday. This is the biggest gain since February and the first in four months. Sales fell a downwardly revised 0.7% in June compared with the initial estimate of a 0.5% drop. Details of the July report were strong across-the-board. Ahead of the report, economists surveyed by MarketWatch expected total sales to rise 0.2%. Excluding the 0.8% rise in motor vehicle sales, retail sales rose 0.8%. Economists had expected ex-auto sales to rise 0.3%. Core sales, excluding autos, gasoline and building materials, rose 0.9% in July. This was the biggest gain since January.
