Friday, August 12, 2011

Retail Sales: July 2011

The Commerce Department reported(.pdf) that, after the slowest three months of spending in almost a year, Americans pulled out their wallets again in July and pushed retail sales up by 0.5 percent in gains that were broad-based. Paced by gasoline station sales that rose 24 percent, overall sales were up 8.5 percent on a year-over-year basis in a data series adjusted for seasonal variations, but not inflation.

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