Americans boosted their retail spending in June for the third straight month, a sign of consumers’ continued resilience amid easing inflation and a strong labor market.
Retail sales—a measure of spending at stores, online and in restaurants—rose a seasonally adjusted 0.2% last month from the month before, the Commerce Department said Tuesday. That was a slower pace than in May and April and matched the 0.2% increase in consumer prices last month, a sign that Americans’ spending is keeping up with, but not outpacing, inflation.
The U.S. economy remains resilient this year, with consumer spending driving economic growth. Wage growth recently surpassed cooling inflation. American shoppers, boosted by a strong labor market, have continued to spend at a steady pace this year, despite rising interest rates by the Federal Reserve.
Read the full story on The Wall Street Journal here.