US Retail Sales Surge in Broad Advance, Topping Estimates

US retail sales rebounded in June in a broad advance, potentially tempering some concerns about a retrenchment in consumer spending.

The value of retail purchases, not adjusted for inflation, increased 0.6% after declines in the prior two months, Commerce Department data showed Thursday. That exceeded nearly all estimates in a Bloomberg survey of economists. Excluding cars, sales climbed 0.5%.