Retail sales grow in July; first bump in 5 months - WQOW TV: Eau Claire, WI NEWS18 News, Weather, and Sports

Retail sales grow in July; first bump in 5 months

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By Aaron Rhody - bio | email

(WQOW) - New numbers show consumers were out shopping in July, more than they have in the last five months. Retail sales grew, creating hopes that consumers will continue to spend money despite worries over a stubbornly high unemployment rate.

Retail sales rose 0.8%, beating expectations. The positive news follows three months of declines, which included a 0.7% drop in June. Consumer spending accounts for 70% of economic activity, so monthly retail sales figures are a closely watched indicator.

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