Posted on 08/15/2019 7:21:06 AM PDT by DoodleDawg
U.S. consumers spent more in July than economists expected, the federal government said on Thursday, as retail sales rose 0.7% vs. the 0.3% estimated. Excluding automobile sales, a more volatile component, retail sales rose 1% double what economists anticipated.
Why it matters: Consumers were largely unfazed by the increasing economic uncertainty in July, defying other indicators that point to a global slowdown or recession. The data also comes as Walmart, one of the worlds biggest retailers, posted strong financials for its most recent quarter.
Remember “GREEN SHOOTS”?
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