Daily News: August 12, 2013

Bloomberg: Retail Sales Probably Climbed in July

Bloomberg reported that employment gains and increased household wealth tied to higher home and stock prices are giving Americans the confidence to spend, brightening the economic outlook.

Bloomberg said retail sales probably rose for a fourth consecutive month in July, showing the U.S. economy is breaking free of the effects of higher taxes and budget cuts, economists said before reports this week.

Bloomberg noted, citing a forecast of 64 economists surveyed by Bloomberg, purchases climbed 0.3% after a 0.4% advance in June.

To read the Bloomberg story click here.