Retail sales rebounded in June, with headline sales rising 0.6% above economists' expectations, indicating that President Trump's tariffs have not significantly impacted consumer spending habits yet. The control group, which factors into the GDP reading, rose 0.5%, compared to a 0.2% increase in May. June sales excluding auto and gas increased 0.6%, led by gains in miscellaneous store retailers and motor vehicle and parts dealers. Data also showed a decrease in initial jobless claims, with weekly filings at their lowest level in three months. Despite signs of sticky inflation, investors are holding steady on bets for Federal Reserve interest rate cuts.
Source: https://finance.yahoo.com/news/retail-sales-rise-more-than-expected-in-june-123540734.html