Brazil retail sales jump in June, boosted by cheaper credit

Getty Images

May's retail sales were revised to show no change instead of the previously reported 0.1 per cent dip.

"The inherent volatility in the monthly retail sales reports notwithstanding, consumers will remain the key driver of growth in the US economy", Richard Moody, chief economist of Regions Financial, told MarketWatch.

The US dollar got a boost on Tuesday after data showed retail sales in the US held up well in July, while a measure of business activity among NY state's manufacturers rose at its fastest pace in three years.

A mysterious decline in spending at the end of the second quarter, meanwhile, vanished after fresh government revisions based on newly incorporated sales data. Receipts at department stores were up by the most in six months, and purchases increased the most since February at sporting goods retailers and building-supply outlets. "We have yet to see the full effect of back-to-school spending, but pickup in spending was evident both online and in general merchandise, which includes bricks-and-mortar department stores".

Retail sales for the month of May and June were revised higher, which would possible help to assuage concerns about consumer spending. Total retail sales have grown year-over-year every month since November 2009, and retail sales as calculated by NRF - excluding automobiles, gasoline stations and restaurants - have increased year-over-year in all but three months since the beginning of 2010.

Michael Pearce, at Capital Economics, said: "Consumption began the third quarter on a strong footing". Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation's economy.

Motor vehicle sales climbed 1.2 per cent in July, the biggest rise since December 2016, after advancing 0.9 per cent in June. Economists polled by Reuters had forecast retail sales increasing 0.4% last month.

Electronics and appliances stores decreased 0.5 percent seasonally adjusted from June and decreased 1.4 percent unadjusted year-over-year.

Related news:

Hot News

isis-killer-beheading-video-story-top US Open announces Sharapova among 2017 wildcards
Aug 16, 2017 - 15:31
However, she was denied a wildcard for the French Open in May before a thigh injury forced her to miss Wimbledon . Perez won last year's at the US Open , while Fourlis nabbed starts at the Australian and French Opens .

isis-killer-beheading-video-story-top India, China should resolve border issues through direct dialogue
Aug 16, 2017 - 15:30
Asked to comment on the incident, Chinese Foreign Ministry spokesperson Hu Chunying said, "I am not aware of the information". The two sides have frequently accused each other of intrusions into each other's territories, but clashes are rare.

isis-killer-beheading-video-story-top Talks Proposed to Change Transfer Window Deadline
Aug 16, 2017 - 15:29
Swansea manager Paul Clement was quizzed about the proposed change, to which he replied: "Our club would support that decision". The window closes on August 31 for clubs are said to be frustrated at not having a settled squad for the start of the season.

Cristiano Ronaldo Sent Off After Diving Vs Barca In Spanish Super Cup
Aug 15, 2017 - 00:32
In contrast, Los Blancos are stronger than ever, capturing the double after prevailing in the UEFA Champions League. The first leg is at the Camp Nou, with the second leg staged at the Santiago Bernabeu Stadium three days later.

S.Korean president emphasizes peace on Korean Peninsula
Aug 15, 2017 - 00:27
Treasury yields and the U.S. dollar as investors regained an appetite for riskier investments amid an easing of Korea tensions. He told Chris Wallace the USA has a "pretty good idea" of North Korea's intentions, but Pompeo declined to provide specifics.

isis-killer-beheading-video-story-top Tropical Depression Eight forms in Atlantic
Aug 14, 2017 - 00:54
A turn toward the north is forecast for tonight, followed by a turn toward the north-northeast by Monday night. The tropical depression east of the Bahamas will likely be designated a tropical storm later on Sunday.

isis-killer-beheading-video-story-top Scaramucci on Trump Charlottesville statement: The president "needed to be much harsher"
Aug 14, 2017 - 00:47
Scaramucci acknowledged to ABC that The New Yorker interview may have cost him his White House job. "He likes doing the opposite of what the media thinks he's going to do", Scaramucci said .

isis-killer-beheading-video-story-top Paul Merson predicts Brighton and Hove Albion are going to get hammered
Aug 14, 2017 - 00:42
If the chairman or CEO come and say it's not possible then we work with the academy players, players we've had in the past. Neymar would like to play in the Premier League one day, according to his Brazil team-mate, Gabriel Jesus .

isis-killer-beheading-video-story-top Chelsea back in for Oxlade-Chamberlain
Aug 13, 2017 - 00:47
Oxlade-Chamberlain joined Arsenal from Southampton back in 2011 for a fee of £12m, since making 184 appearances for the Gunners. The Englishman has been heavily linked with a move to Liverpool or Chelsea last month.

isis-killer-beheading-video-story-top Taylor Swift shaken and humiliated by assault, mom tells trial
Aug 12, 2017 - 00:24
His testimony came a day after Ms Swift took the stand to describe the incident, calling it a "definite grab". She testified she first mentioned the incident about 15 minutes later to her photographer Stephanie Simbeck .

isis-killer-beheading-video-story-top Perseid Meteor Shower 2017 Not Brightest Meteor Shower In History
Aug 12, 2017 - 00:22
The shower may be slightly better in the predawn hours of August 12, but there will be a decent showing both nights. They can be seen anywhere in the world, but are best viewed in the Northern Hemisphere.

isis-killer-beheading-video-story-top Singer Taylor Swift faces her alleged groper in court
Aug 11, 2017 - 00:27
She said she had no reaction to learning that Mueller , then 51, had been fired over the incident. " After this happened, it was like a light switched off in my personality ", Swift said.

isis-killer-beheading-video-story-top Because We Need It: The gentlelady from California reclaims her time
Aug 09, 2017 - 00:19
As for whether a Republican-dominant Congress would ever impeach President Trump , Rep. He lies, they know it, and he's the danger and they want us to do something about it".

isis-killer-beheading-video-story-top White House: Trump 'not discussing' firing Mueller
Aug 08, 2017 - 00:32
Brzezinski has also said Conway is "fake news" and said she won't book her for the program. The Trump White House may have new discipline, thanks to Chief of Staff John Kelly.

isis-killer-beheading-video-story-top Potential Tropical Cyclone nears Yucatan
Aug 08, 2017 - 00:28
Tropical Storm Franklin could become the first hurricane in the Atlantic this season, according to the National Hurricane Center . The National Hurricane Center gives it a 20 percent chance of potential development within the next five days.