MW: July retail sales up for first time in 3 months
By Greg Robb
WASHINGTON (MarketWatch) - Sales at U.S. retailers increased 0.4% in July to a seasonally adjusted $362.7 billion, the Commerce Department estimated Friday. Sales increased for the first time after two straight monthly declines. Sales fell an upwardly revised 0.3% in June. Details of the July report were weak. Most of the gain came from autos and gasoline. Excluding these two sectors, retail sales were down 0.1% in July. Ahead of the report, economists surveyed by MarketWatch expected total sales to rise 0.5% in June. Excluding the 1.6% rise in motor vehicle sales, retail sales rose 0.2% to $299.7 billion, in line with expectations.
