Economy

June retail sales should be strong from a pickup in spending before new virus outbreak slowed activity

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A shopper walks with bags of purchases in New York.

John Lamparski | SOPA Images | Getty Images

Retail sales in June are expected to have gained 5.2% as the economy reopened, but sales could have trailed off towards  the end of the month as the virus outbreak worsened.

According to Dow Jones, economists expect sales rose 5% when excluding vehicle sales. May sales jumped by a surprising 17.4%, and 17.2% excluding automobiles, as states first reopened their economies.

 “They’re backward looking, and I’m afraid we might get a decline in July,” said Diane Swonk, chief economist at Grant Thornton. She expects sales increased by 5.5%, and the number would have been stronger were it not for a…



Source cnbc.com

Morgan Stanley (MS) earnings Q2 2020

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