Sales at U.S. retailers probably rose in July for the first time in four months as employment picked up, easing concern the expansion is faltering, economists said before reports this week.
The projected 0.3 percent advance in purchases would follow a 0.5 percent drop in June, according to the median forecast of 65 economists surveyed by Bloomberg News ahead of the Commerce Department figures on Aug. 14. Other reports may show the cost of living increased and factory production climbed last month.
Gains in purchases at places like Gap Inc. and Macy’s Inc. (M) indicate American households are looking beyond the global economic slowdown as hiring improves. At the same time, unemployment in excess of 8 percent is thwarting a binge in spending as consumers look to repair finances and pay down debt.
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