WASHINGTON—American shoppers gave the U.S. economy a boost in July, countering manufacturing-sector weakness, while Wall Street continued to have jitters about faltering growth.
Retail sales, a measure of purchases at stores, restaurants and online, climbed a seasonally adjusted 0.7% in July from a month earlier, the Commerce Department said Thursday.
The robust report—the strongest reading since March—is a positive signal for the U.S. economy, at least for now, amid warning signs of a global slowdown.
U.S. stocks stabilized after release of the sales figures. The government data came as Walmart Inc. reported sales rose in the second quarter, and the retail giant raised its profit forecasts for the year. J.C. Penney Co., however, fared worse in its latest quarter with sales down 9%. (READ MORE)
![[Funding Alert] Facebook, Others Back Edtech Start-Up Unacademy In $110 Mln Funding Round - deals in retail](https://dealsinretail.com/wp-content/uploads/2020/02/Funding-Alert-Facebook-Others-Back-Edtech-Start-Up-Unacademy-In-110-Mln-Funding-Round-deals-in-retail.jpeg)
