Investing.com - Retail sales in the U.S. rose less-than-expected in July, while core retail sales topped estimates, official data showed on Tuesday.
In a report, the U.S. Commerce Department said that retail sales rose by a seasonally adjusted 0.2% in July, missing expectations for a 0.3% increase.
Retail sales figures for June were revised up to a 0.6% gain from a previously reported increase of 0.4%.
Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy.
Core retail sales, which exclude automobile sales, edged up 0.5% last month, beating expectations for a 0.4% increase. Core sales rose by 0.1% in June.
Core sales correspond most closely with the consumer spending component of the government's gross domestic product report. Consumer spending accounts for as much as 70% of U.S. economic growth.
Following the release of the data, the U.S. dollar was higher against the euro, with EUR/USD shedding 0.1% to trade at 1.3287.
Meanwhile, U.S. stock future indices pointed to a higher open. The Dow Jones Industrial Average futures pointed to a gain of 0.3% at the open, S&P 500 futures indicated an increase of 0.25%, while the Nasdaq 100 futures signaled a gain of 0.2%.
In a report, the U.S. Commerce Department said that retail sales rose by a seasonally adjusted 0.2% in July, missing expectations for a 0.3% increase.
Retail sales figures for June were revised up to a 0.6% gain from a previously reported increase of 0.4%.
Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy.
Core retail sales, which exclude automobile sales, edged up 0.5% last month, beating expectations for a 0.4% increase. Core sales rose by 0.1% in June.
Core sales correspond most closely with the consumer spending component of the government's gross domestic product report. Consumer spending accounts for as much as 70% of U.S. economic growth.
Following the release of the data, the U.S. dollar was higher against the euro, with EUR/USD shedding 0.1% to trade at 1.3287.
Meanwhile, U.S. stock future indices pointed to a higher open. The Dow Jones Industrial Average futures pointed to a gain of 0.3% at the open, S&P 500 futures indicated an increase of 0.25%, while the Nasdaq 100 futures signaled a gain of 0.2%.