Retail sales probably rose at a faster pace in June and the U.S. housing market strengthened as the economy began to emerge from a slowdown tied to higher taxes and budget cutbacks, economists said before reports this week.
Purchases at retailers rose 0.8 percent, the most in four months, after a 0.6 percent advance in May, according to the median forecast of economists surveyed by Bloomberg before tomorrow’s Commerce Department release. Other data may show builders broke ground on more homes, housing permits climbed and inflation was limited.
Americans bought cars and trucks last month at the fastest pace since 2007, a sign consumers have the wherewithal to keep spending as household wealth and the labor market improve. Other data this week are projected to show industrial production rebounded in June and an index of leading indicators picked up, setting the stage for stronger second-half growth.
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