Starbucks' New China Store Is the Size of a Supermarket
Economy grows 6.3% in Q2 after 15 months
Uber recognises need for consumer trust after breach cover up
Sonia Gandhi likely to be chief patron of Congress
Get Hulu For Free With New Sprint Unlimited Plan
Brazil retail sales jump in June, boosted by cheaper credit
17 August 2017, 12:36 | Maryann Sutton
US retail sales soar in July to 7-month high
In the month of July, biggest increase has been recorded in USA retail sales seven months as customers assisted purchases of motor vehicles and lifted discretionary spending.
Economists have been expecting the USA economy to pick up steam in the second half of the year and that view got some support from the latest retail sales report - with a bit of help from Amazon. May's retail sales were revised to show no change instead of the previously reported 0.1 per cent dip.
Nonstore Retailers were up 11.5% from July 2016, while Building Materials and Garden Equipment and Supplies Dealers were up 8.3% from a year ago.
Analysts, who had been expecting an increase of only 0.3 per cent in July, said the result was a strong start to growth in the third quarter.
The strong auto sales came despite industry reports which showed vehicle and truck sales fell six per cent from July 2016.
The acceleration in consumer spending in the second quarter came at the expense of savings, a trend that economists say is unsustainable. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation's economy.
"The decline in the saving rate, however, raises some longer-term concerns about consumer spending", said Michael Feroli, an economist at JPMorgan in NY.
Excluding sales of autos and parts, sales rose by 0.5% on the month to hit $378.8bn (consensus: 0.4%). Faced with a huge inventory of unsold cars, auto dealerships are resorting to hefty discounts to attract buyers.
Amazon's Prime Day helped boost US retail sales in July. Americans increased spending last month on most goods except for clothes and gasoline.
Still, July was even better for the non-store retailers like Amazon and Jet that have soared in recent years, and increased 1.3 per cent compared to June, also their strongest gain since December.
Helping to push the June level higher was a 1.2% increase in auto sales from the month before, its biggest increase since December.
Samsung officially introduces the SM-G9298 flip phone
There are many sensors on board, some of which include an acceleration sensor, a gyroscope, and a barometric pressure sensor. Similar to the Samsung Galaxy S8 and Galaxy S8+, the flip phone does not come with a dedicated button for Samsung's Bixby.
Hard season in store, says Conte
We know very well Arsenal is a strong team. "For the rest I can tell my opinion, but then there is the club to make the final decision".
Man City edge past spirited newcomers Brighton
We are playing in a division now where we are going to be severely tested and we are going to have to vary our game at times". Guardiola started with a back-three and they were rarely troubled as City dominated possession with 78 percent of the ball.
How To Chat, Share Videos In The App — YouTube Messenger
Google says that some suggested contacts may also be people that a user has interacted with on YouTube or other Google services. Interestingly, WhatsApp had recently enabled the feature where users are now able to play YouTube videos directly on the app.
All-Pro DL Vince Wilfork Retires After 13 Seasons
Vince Wilfork announced his National Football League retirement Monday afternoon as only he could - while dancing and grilling . Listed (generously) at 325 pounds, Wilfork was incredibly nimble and athletic for a man his size, which surprised many.
Perseid meteor shower peaks August 12
Cooke said the show would be slightly better in the predawn hours of August 12, but that there'd be a decent show both nights. The comet only orbits the sun every 133 years but when it does it leaves a trail of dust and small debris behind it.