US retail sales hit top with 0.6% gain in June with Investing.com

By Geoffrey Smith

Investing.com – US retail sales in June exceeded expectations in the latest show of strength by an American consumer who seems happy to swallow the toughest price hikes in years.

Overall, it rose by 0.6% month-on-month, compared to a fall of 0.4%. However, the rise came from a lower base, with data revised for May to show a 1.7% drop from the 1.3% initially reported.

, which excludes some of the most volatile components of consumer spending, rose 1.3%, before the expected 0.4% rise, and spending metrics rose 1.1%. They both revised their May numbers slightly.