US Retail Sales Up 7.5% In June Despite Continued Threat Of Coronavirus - Census Bureau


US Retail Sales Up 7.5% in June Despite Continued Threat of Coronavirus - Census Bureau

WASHINGTON (UrduPoint News / Sputnik - 16th July, 2020) US retail sales jumped 7.5 percent in June as the country's businesses continued to make progress on their reopening from coronavirus lockdowns and the threat of a new wave of the pandemic, the Census Bureau said on Thursday.

"Advance estimates of US retail and food services sales for June 2020, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $524.3 billion, an increase of 7.5 percent from the previous month," the bureau said in a statement. "Due to recent events surrounding COVID-19, many businesses are operating on a limited capacity or have ceased operations completely."

Economists surveyed by US media had expected a 5 percent growth in retail sales forJune.