July retail sales see broad-based gain as consumers spur growth
Estimates in a survey of 84 economists for total retail sales range from gains of 0.1% to one per cent
Washington
SALES at US retailers rose in July on growing demand for everything from cars to clothing, and a decline the previous month was wiped away, signalling consumers are propelling growth in the world's largest economy.
The 0.6 per cent advance matched the median forecast of economists surveyed by Bloomberg and followed little change in June that was previously reported as a 0.3 per cent drop, a Commerce Department report showed on Thursday in Washington. Eleven of 13 major categories showed gains.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons
BOE reports record usage of short-term liquidity repo
Philippines central bank not seeing rate hike despite peso weakness: finmin
Middle East tensions threaten global progress on inflation: World Bank
Heatstroke kills 30 in Thailand this year as South-east Asia bakes
Thailand to appoint former energy executive Pichai as finance minister, sources say