U.S. retail sales increased solidly in July, supported by strong demand for motor vehicles as well as promotions by Amazon.com and Walmart, though a softening labor market and higher goods prices could curb consumer spending growth in the third quarter.
The rise in retail sales last month together with an upward revision to June’s data, reported by the Commerce Department on Friday, eased some concerns that economic activity was stalling following soft employment growth over the past three months.
“Retail sales do not give the economy a complete bill of health, but at least the