U.S. Retail Sales See Modest Rise Amid Inflation Concerns

Despite expectations of a 0.5% increase, June saw a modest 0.2% rise in retail sales, attributed to amplified spending on e-commerce platforms, home furniture, and electronics. Compared to the previous year, retail sales have grown by 1.5%. Notably, online retailers experienced a 1.9% increase in spending, whereas department stores, gas stations, and food and beverage stores saw a decrease.

Although this data indicates a softening in consumer demand, it does not predict a severe downturn. Policymakers view this slowing demand as beneficial in controlling inflation without causing a recession.

Source: Axios