June retail sales preview: What to expect
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Wall Street is eyeing the release of June retail sales data, which will provide an update on the state of the US economy. Economists predict a 0.2% drop in retail sales excluding autos, while retail sales including autos are predicted to rise 0.1%. Some American consumers are feeling stretched, with signs of financial challenges and prioritizing essentials over discretionary items. However, there is still spending at the upper end of the income distribution, especially on services. The impact of inflation and higher borrowing costs varies across different types of consumers. The University of Michigan survey of consumers showed a slip in consumer sentiment and concerns about high inflation. The future readings will reveal the effects of inflation and higher rates on retail sales. The release of the June retail sales report will provide important insights into the American consumer and the state of the economy.

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https://finance.yahoo.com/video/june-retail-sales-preview-expect-164025975.html