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Retail sales increase in the US
US retail sales jumped 0.7% in July 2023, suggesting the economy continued to expand early in the third quarter.
There's more evidence that US consumers are weathering the economic storm and continuing to spend. Figures show retail sales rose by 0.7% in July which is more than expected.
It's welcome news for retailers who are struggling with high prices and lower margins, and that鈥檚 going to force the Fed to keep the prospect of more rate hikes on the table.
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