Retail Sales Up Again in July, Fed Says

Retail sales in the United States increased 0.5% during July compared to June, according to statistics released by the US Department of Commerce and the National Retail Federation. It was the fourth consecutive month that retail sales went up, providing a sign of economic improvement. July’s retail sales of $424.5 billion were 4.0% higher than July 2012, the report stated. Total retail sales for Q2 2013 were up 4.0% annually. Still, analysts said the economy may still be stuck in neutral. “Even with modest employment gains and steady consumer confidence, Americans remain in a cautiously-positive spending pattern,” said Jack Kleinhenz, the NRF’s chief economist.