Consumer Spending: Retail Sales

retail sales: The Commerce Department said Tuesday that retail sales increased 0.2 per cent in July from June. Sales had risen 0.6 per cent in June from May on a surge in auto sales, according to Times Colonist. Retail sales are closely watched because they're the government's first report each month on consumer spending, which accounts for 70 per cent of U.S. economic activity and WASHINGTON - U.S. retail sales edged up in July despite a drop in auto sales. A category of purchases that excludes the most volatile areas rose by the most in seven months, a sign that consumer spending could boost economic growth in coming months. "Core" retail sales, which exclude the volatile auto, gas and building supply categories, rose 0.5 per cent in July. It was the biggest such gain since a similar increase in December. (www.immigrantscanada.com). As reported in the news.