Retail sales came in better than expected in July, rising +0.8% from the previous month and 4.1% year-over-year. Not only did it stop the trend of three consecutive monthly losses, it was the biggest monthly gain since February: 
Gains were made across the board in July – from autos to electronics, building materials, clothing stores and restaurants.
July’s retail sales report was a pleasant surprise. But is it enough to write off the weak batch of economic data from the second quarter as just a temporary slowdown? And is it strong enough to take QE3 off the table? Chime in below.
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