Despite Distractions, Economic Data Boomed Last Week

Despite all the distractions in the news, the U.S. economy’s resilience remains remarkably strong.

Here are key fundamentals easily lost amid recent headlines dominating the news cycle.

Newly released June retail sales data shows consumers are spending bigly.

Retail sales grew 5.3% in the 12 months ended June 30th.

That compares to a 3.2% rate of growth in the last expansion.

To be clear, retail sales grew more than 60% faster than at the peak of the last expansion!

The forward looking index of ten U.S. leading indicators of economic growth has been in record territory for months and, after flattening in May, resumed its surge in June.

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