The numbers: Sales at U.S. retailers rebounded in June as Americans flocked to bars and restaurants and bought the latest summer fashions, pointing to an acclerating U.S. economy.
Retail sales increased 0.6% last month, the government said Friday. The Economists polled by The Wall Street Journal had forecast a 0.4% decline.
Households have increasingly shifted their spending toward services they avoided during the pandemic: Dining out, entertainment, travel, vacation trips and so forth.
Take bars and restaurants, the only category in the monthly retail report that involves services. Sales jumped 2.3% and rose sharply for the fourth month in a row.
Consumers also would have bought more new cars and trucks last month, but automakers can’t produce enough of them because of a shortage of computer chips. Semiconductors are now a critical component in modern vehicles.
Read: A ‘robust’ U.S….