US Retail Sales Stagnate In July

US retail sales stagnated in July compared to a month ago, according to Commerce Department figures released on Wednesday.

Retail sales in the US stood at $682.8 billion last month. The market expectation was a slight rise of 0.1%.

The June figure was revised up to $682.6 billion from $680.6 billion, for a monthly increase of 0.8%, a Commerce Department statement said.

On an annual basis, retail sales jumped 10.3% from a year ago in July.

"Gasoline stations were up 39.9% from July 2021, while non-store retailers were up 20.2% from last year," it added. -