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Even with the pandemic, consumers likely boosted retail sales in July

Key Points
  • Retail sales data is a key litmus test, and economists expect Friday's report will show consumers continued to spend in July, though at a slower pace than June.
  • Economists expect to see retail sales rise by 2.3%, helped by car sales, appliances and home improvement spending.
  • The report follows a series of better than expected data, from July's employment report to consumer inflation and jobless claims data.

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