TechFlow, July 17 — According to Jinshi Data, U.S. retail sales rebounded more strongly than expected in June, but part of the growth may reflect price increases for certain goods affected by tariffs. Data released on Thursday showed last month's retail sales rose 0.6%, compared to an unadjusted 0.9% decline in May, exceeding the market consensus forecast of a 0.1% increase. Last month’s rise may have been partly driven by tariff-induced price hikes rather than increased volume. Inflation data released this week indicated steady price increases in June for tariff-sensitive items such as household goods, appliances, sporting goods, and toys. Retail sales excluding automobiles, gasoline, building materials, and food services rose 0.5% last month, up from a downwardly revised 0.2% in May. Sam Bullard, senior economist at Wells Fargo, said: “Overall, the household sector appears to remain supportive, but consumer spending seems to be slowing.”
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