US retail sales rebound in boost to economic growth in 2nd quarter ...Qatar

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US retail sales rebound in boost to economic growth in 2nd quarter
source : ٌRayaٌ news ( Qatar ) () 14
US retail sales unexpectedly increased in June as demand for goods remained strong even as spending is shifting back to services, bolstering expectations that economic growth accelerated in the second quarter. The rebound in sales reported by the Commerce Department yesterday was despite purchases of motor vehicles declining again because of a lack of supply caused by a global semiconductor shortage. The scarcity of new motor vehicles is boosting demand for used cars and trucks, helping to fuel inflation. Vaccinations against Covid-19, low interest rates and massive fiscal stimulus are underpinning retail sales. “Many retailers are benefiting from increased traffic in stores as well as high

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