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Consumer spending continues to boom: June’s retail sales were up 19.8% from their level in February 2020, before the pandemic hit the U.S. Retail and food services sales rose 0.6% in June from May; this was partially offset by a 0.4% downward revision to May’s level of retail sales, which are now down 1.7% from April (had been -1.4%). In year-ago terms, retail and food services sales were up 18.0% in June.
