U.S. retail sales rose in July as consumers shopped ahead of pending tariffs, with total sales excluding autos and gasoline climbing 1.45% month-over-month and 5.89% year-over-year, according to the CNBC/NRF Retail Monitor. The gains followed a weak June and were supported by summer sales events.
Key Takeaways:
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Sales rebound after weak June: July posted strong retail growth, reversing the prior month’s dip.
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Digital and sporting goods lead gains: These sectors recorded double-digit annual increases.
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Tariff concerns drive early buying: Consumers accelerated purchases before expected price hikes.
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