Lansing, Mich.(WLNS/ AP) — U.S. government reports retail sales rose 7.5% in June for the second month in a row.
Analysts have cautioned that the recovery may be short-lived if customers become less willing to spend on discretionary items like clothing, especially as jobless claims rise.
The Census Bureau reported Thursday that retail sales are 1.1% higher than their levels from a year ago, after a brutal plunge in March and April was offset by a decent rebound in May and June. Spending at restaurants and bars jumped 20% last month, but it’s still down 26% from last year. Sales at clothiers more than doubled between May and June, yet they’ve collapsed 23% from a year ago.