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Retail sales in the U.S. climbed by much more than expected in the month of July, the Commerce Department revealed in a report on Wednesday, although the report also showed a significant downward revision to the sale growth in June.
The Commerce Department said retail sales rose by 0.5 percent in July following a revised 0.2 percent uptick in June.
Economists had expected retail sales to inch up by 0.1 percent compared to the 0.5 percent increase originally reported for the previous month.
Excluding a modest increase in sales by motor vehicle and parts dealers, retail sales still climbed by 0.6 percent in July after edging up by 0.2 percent in June. Ex-auto sales had been expected to rise by 0.3 percent.
