Someone forgot to tell the American consumer that interest rates are supposedly so restrictive that they risk pushing the U.S. economy into a recession.
. After a cyberattack shutdown systems at auto dealers across the country in June, pushing sales down 3.4 percent, there was a considerable amount of pent-up demand. Excluding parts shops, sales at dealerships rose four percent after last month’s 3.9 percent decline. . The latter include everything from dollar stores to department stores to big box stores like Walmart and Costco. Sales at the general merchandise stores rose 0.5 percent, the largest gain since March. Sales at grocery stores climbed one percent.
There were declines. The group the government calls “miscellaneous store retailers”—this includes pet shops, florists, bait-and-tackle stores, gun shops—saw a 2.5 percent decline.reported sales that beat estimates on Thursday, confirming what the government sales report suggested about the strength of the consumer. The company also raised its full-year guidance, sending its stock up to all-time highs.
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