Retail Posts Largest Gain in 6 Months

Retailers in the U.S. posted higher than expected gains in the second quarter, a sign of economic growth as consumers spent more on automobiles and other goods, despite higher fuel prices.

According to the Commerce Department, retail sales rose 0.8 percent – the largest growth since November 2017. When polled in May, economists forecast only half that amount.

In May, auto sales rose 0.5 percent after gaining 0.2 percent in April; in the same period of time, clothing sales grew 1.3 percent; and online retail gained 1.3 percent, according to CNBC. Furniture sales, however fell 2.4 percent.