Retail sales increase in the US

There's more evidence that US consumers are weathering the economic storm and continuing to spend. Figures show retail sales rose by 0.7% in July which is more than expected.

It's welcome news for retailers who are struggling with high prices and lower margins, and that’s going to force the Fed to keep the prospect of more rate hikes on the table.

(Picture: Shopping couple walking on street. Picture credit: Getty Images)