India, July 17 -- Retail sales in the U.S. rebounded by much more than expected in the month of June, according to a report released by the Commerce Department on Thursday.
The Commerce Department said retail sales climbed by 0.6 percent in June after slumping by 0.9 percent in May. Economists had expected retail sales to inch up by 0.1 percent.
"Delayed tariff price increases and steady income growth continue to fuel spending despite weak survey data indicating building concerns by households," said Nationwide Senior Economist Ben Ayers.
He added, "The strong June for retail sales should support a solid rebound for real GDP growth in the second quarter but weaker activity is still likely over the second half of the year as tariff uncert...