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Tuesday, November 30, 2021
HomeNewsEconomyJuly Retails Sales Data Beats Expectations, Wall Street Looks for Sept. Rate Hike

July Retails Sales Data Beats Expectations, Wall Street Looks for Sept. Rate Hike

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Shopper at a mall impacting consumer data and retail sales reporting. (Photo: Reuters)

The Commerce Department reported Thursday that retail sales rose 0.6 percent in July, slightly beating Wall Street’s expectations for a gain of 0.5 percent. Excluding the volatile auto component, sales rose 0.4 percent, matching the media forecast.

Wall Street investors digesting the data in the report are now expecting the Federal Reserve’s policy-making committee to hold to their initial views for a mid-September rate hike.

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PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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