Retail Sales Rise In July

Photo courtesy of wikicommons

Retail sales rose 0.8 percent in July, the largest increase since February. July was also a reasonably good month for hiring, employers added 163,000 jobs, also the best month since February.

The numbers are an oasis in a desert of bleak economic forecasts.

“It looks like lower gas prices, a nice rally in stocks and stronger job growth … helped boost consumer spending” in July said Jennifer Leem senior economist at BMO Capital Markets, in an interview with the Kansas City Star.

But other economists are warning that consumer spending can’t be sustained if hiring doesn’t improve.
“Americans are not throwing caution to the wind,” said Chris Christopher, a senior economist at IHS Global Insight.

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