US retail sales boost
Sales at US retailers rose 0.6pc in July and figures for the prior two months were revised up, Commerce Department data showed yesterday in Washington. July's gain was broad-based with 11 of 13 major categories advancing.
Demand grew as rising employment, stronger finances and still-cheap fuel propelled consumers last month, even as the sinking stock market in China and ongoing Greek debt crisis hurt confidence. The data are seen as a signal household- spending gains can be sustained despite global events. (Bloomberg)