The sales in US retailers rose a little less in July than expected. The proceeds increased by 0.5 percent compared to the previous month, as the Ministry of Commerce announced in Washington on Friday. On average, economists had expected an increase of 0.6 percent.
However, the numbers for the previous month were corrected. In June the sales rose by revised 0.9 percent. Initially, only an increase of 0.6 percent was determined.
Without the volatile sales with vehicle sales, retail revenues rose by 0.3 percent. This was expected.
“With regard to the interest reduction expectations regarding the Fed, the numbers should be slightly dampening, because the previous monthly values were significantly corrected upwards,” said analyst Ralf Umlauf by the Landesbank Hessen-Thuringia. So far, economists have mostly assumed that the US Federal Reserve Fed will reduce the key interest rate by 0.25 percentage points in September.