Retail Sales Remain Unchanged in July; Analysts Expected Increase
Retail sales remained unchanged during the month, according the U.S. Census Bureau, while analysts had expected a 0.4 percent increase.
The consumer stayed home in July. Retail sales remained unchanged during the month, according the U.S. Census Bureau, while analysts had expected a 0.4 percent increase. In June, retail sales rose 0.8 percent. Core retail sales, which doesn't include autos, gas and food, also showed no growth in July. David Lebovitz, global market strategist at JPMorgan Asset Management, based in New York, attributed the weak month for the consumer to rising uncertainty. He expects the Fed to hike short-term interest rates in December. TheStreet's Scott Gamm reports from Wall Street.
