The sales of cars, sporting goods and building materials in the US have lifted retail sales figures for July. The US Commerce Department released retail sales figures showing a 0.6% increase for the month, slightly more than the 0.5% expected and higher than the June figures which were revised up from -0.3% to 0.0%. On top of other positive reports from factory inventories and constructions, it is expected second quarter US GDP figures will be adjusted up from 2.3% to 3.0% or higher. This adds to the market view that rates will rise when the Fed next meets in September.
