Retail Sales Beat Forecasts in July

Discounts and back-to-school deals attracted consumers Americans were willing to spend money at retailers last month. Despite the summer heat, consumers flocked to stores to take advantage of discounts and inventory clearance sales. The International Council of Shopping Centers reported that sales at U.S. stores open for at least a year rose 4.6% in July, topping the 3.1% increase Wall Street had expected, Reuters noted. July is typically a slow month for retailers. Analysts noted that retailers had begun promoting back-to-school products earlier than in prior years. While the better-than-expected retail numbers were welcome, analysts said that they did