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July Retail Sales Beat Analysts Expectations

New data out this morning does show that retail sales were up more than expected in July and the Commerce Department reported that sales rose 3.2% from a year ago and up 7/10 of a percent from June. While economists expected an increase of 4/10 of a percent from June last month. It does show a sign of strength for the US economy and comes after retail sales were revised upward by 3/10 of a percent month on month. In June. The data does hit as several major retailers report their quarterly results this week. We've already heard from Home Depot earlier this morning and we'll have more on that in a moment. Then tomorrow we'll hear from Target as well as TJX companies. That's the parent company TJ Maxx Marshall's and Home Goods on Thursday, Wal Mart is set to report.