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US retail sales increased last June, spurred by the increase in car purchases and a host of other products, boosting the forecasts of a number of companies. strong economic growth in the second quarter.
Retail trade rose 0.5% last month. May's data was adjusted upward, showing sales growth of 1.3% rather than a 0.8% increase from previous estimates.
May's retail sales growth was the highest since September 2017.
Experts A Reuters polled economy predicts retail sales will rise 0.5% in June. Excluding cars, gasoline, building materials and food services, retail sales were little changed last month after a revised increase of 0.8% in May. These sales, called basic retail sales, correspond to the consumption expenditure component of the calculation of GDP.
Initial estimates showed that basic retail sales rose 0.5% in May.
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