Retail spending surged in June, offering fresh evidence that American consumers remain a powerful engine for the economy even as interest rates remain elevated and inflation continues to ease.
The Commerce Department reported Thursday that retail sales rose 0.6 percent in June from the prior month, far surpassing economists’ expectations of just a 0.1 percent gain.
Sales excluding motor vehicles climbed 0.5 percent, while the so-called “control group” of retail sales—which strips out food services, autos, building materials, and gasoline—also rose 0.5 percent, pointing to robust underlying demand.
The report showed broad-based strength, with 10…
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