US Retail Sales Experience Significant Uptick

In a promising sign for the economy, the US Census Bureau reported a 0.5% increase in seasonally adjusted advance estimates of retail and food services sales for July, totaling $726.3 billion. This marks a 3.9% rise compared to the same period last year.

Yearly and Quarterly Growth Highlights

The quarter ending in July saw a 3.9% growth in total sales year-over-year. Retail trade sales also showed resilience, with a 0.7% increase from the previous month and a 3.7% rise compared to July 2024.

Sector-Specific Surges

Nonstore retailers led the charge with an impressive 8% growth, while food service and drinking places enjoyed a 5.6% increase from the previous year, underscoring the diverse strength across sectors.