WASHINGTON, July 16 (Xinhua) -- U.S. retail sales increased by 7.5 percent in June amid a resurgence of COVID-19 cases, following a rebound in the prior month, the country's Commerce Department reported on Thursday.
Noting that the June retail sales report was much better than expected, Tim Quinlan and Shannon Seery, economists at Wells Fargo Securities, wrote in an analysis that "in a way it's a torment because the remarkable rebound could be a fleeting one as the country struggles with a re-emergence of growth in COVID-19 cases that might force new closures."
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