SummaryCompanies Retail sales increase 0.7% in July; June sales revised upCore retail sales jump 1.0%; June sales revised downImport prices rebound 0.4%; down 4.4% year-on-yearWASHINGTON, Aug 15 (Reuters) - U.S. retail sales increased more than expected in July as Americans boosted online purchases and dined out more, suggesting the economy continued to expand early in the third quarter and keeping a recession at bay.
Retail sales jumped 0.7% last month.
Sales at food services and drinking places, the only services category in the retail sales report, shot up 1.4% after rising 0.8% in June.
Excluding automobiles, gasoline, building materials and food services, retail sales surged 1.0% in July.
Data for June was revised lower to show these so-called core retail sales increasing 0.5% instead of the previously reported 0.6%.
Persons:
Goldman Sachs, Andrew Hunter, David Russell, Matthew Martin, Ben Ayers, Lucia Mutikani, Paul Simao
Organizations:
Commerce Department, Capital Economics, Retail, Reuters, Consumers, Market Intelligence, Wall, Treasury, Labor Department, Oxford Economics, delinquencies, New York Fed, Nationwide, Thomson
Locations:
WASHINGTON, U.S, New York, Columbus , Ohio