The Commerce Department’s U.S. Census Bureau today released retail sales data for July 2011. Retail sales increased 0.5 percent, similar to private-sector expectations, and sales in May and June were revised upward, each by 0.2 percent. Motor vehicle sales increased 0.5 percent in July, and sales at gasoline stations jumped 1.6 percent. Sales excluding those at motor vehicle and parts dealers and gasoline stations also rose 0.5 percent.
“Consumer spending reflects the confidence of the American people, and despite recent economic turbulence, we’re still seeing widespread growth in spending,” said Acting U.S. Commerce Secretary Dr. Rebecca Blank. “The president knows that the more people spend, the more businesses grow and hire more workers, and that’s why in the coming months, this administration will continue to fight for what the American people care about most: new jobs, higher wages and faster economic growth.”
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