Consumer Spending Strong in July —

Consumer spending proved strong in July:

“July retail sales rose 0.6% from June 2019 and 3.4% above last year, according to the U.S. Department of Commerce’s latest monthly report on the trade. Sales at nonstore retailers (mostly e-commerce) rose 2.8% from June and 16% year over year, a strong showing probably due in part to Amazon’s Prime Day, according to a note from Wells Fargo economists emailed to Retail Dive.”

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