On its face, the retail gross sales report from the U.S. Census Bureau for June confirmed some weak point, with the headline quantity rising 0.2% final month versus forecasts for 0.5% and Might’s 0.5%. Nonetheless, the retail gross sales “management group” – which filters out some parts to compile a extra exact gauge of shopper spending – rose 0.6% in June, greater than double Might’s tempo and much forward of estimates for a decline of 0.3%.
