India, Aug. 15 -- A report released by the Commerce Department on Friday showed retail sales in the U.S. increased in line with economist estimates in the month of July.
The Commerce Department said retail sales climbed by 0.5 percent in July after jumping by an upwardly revised 0.9 percent in June.
Economists had expected retail sales to rise by 0.5 percent compared to the 0.6 percent increase originally reported for the previous month.
"Prior month retail sales numbers were actually better than previously reported, which makes today's headline numbers better than they appear (e.g. because they are still increasing on much higher previous numbers)," said Chris Zaccarelli, Chief Investment Officer for Northlight Asset Management. He adde...