Retail sales in the United States have risen at a monthly rate of 1% in July, after a revised down 0.2% decrease in June, data by the US Census Bureau showed.

It has been the fastest monthly growth rate since January 2023.

The latest figure also well exceeded market consensus of a 0.3% growth, while the data eased fears of a recession.

In July, sales went up for:

– motor vehicle and part dealers, by 3.6%;
– electronics and appliance stores, by 1.6%;
– grocery stores, by 1%;
– building material and garden equipment, by 0.9%;
– health and personal care, by 0.8%;
– furniture, by 0.5%;
– food services and drinking places, by 0.3%;
– non-store retailers, by 0.2%;
– gasoline stations, by 0.1%.

At the same time, sales dropped for:

– miscellaneous stores (-2.5%);
– sporting goods, hobby, musical instrument and books (-0.7%);
– clothing and footwear (-0.1%).

The US Dollar Index, which reflects the relative strength of the greenback against a basket of six other major currencies, was last edging down 0.12% on the day to 102.922.

The US currency recorded its biggest single-day gain against major peers since July 18th on Thursday, as market players trimmed bets the Federal Reserve would have to ease monetary policy aggressively in September.

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