Americans spent more last month on clothing, electronics and dining out as the economy opened up and there were fewer pandemic-related restrictions.
U.S. retail sales rose a seasonal adjusted 0.6% in June from the month before, the U.S. Commerce Department said Friday. The increase was a surprise to Wall Street analysts, who had expected sales to fall slightly last month.
Retail sales growth has slowed since March, when stimulus checks sent to most Americans helped boost spending. And as Americans get vaccinated, they have spent less on goods and more on hotels, haircuts and other services, which are not included in Friday's report.
The increase last month could be due to higher prices, said Paul Ashworth, chief U.S. economist for consulting firm Capital Economics.
Americans are paying more for food, gas and other goods, with prices jumping last month by the most in 13 years.
Sales at bars and restaurants rose 2.3%, according to Friday's report. Clothing store sales rose by 2.6%, and sales at electronic shops were up 3.3%.
OpenAI has announced that ChatGPT will soon engage in "erotica for verified adults." CEO Sam Altman says the company aims to allow more user freedom for adults while setting limits for teens. OpenAI isn't the first to explore sexualized AI, but previous attempts have faced legal and societal challenges. Altman believes OpenAI isn't the "moral police" and wants to differentiate content similar to how Hollywood differentiates R-rated movies. This move could help OpenAI, which is losing money, turn a profit. However, experts express concerns about the impact on real-world relationships and the potential for misuse.
CNN is launching a new “All Access” streaming subscription in the U.S. on October 28th, priced at $6.99 a month, or just $69.99 if you sign up for a full year.
