U.S. retail sales jumped in June, boosted by states widely loosening coronavirus restrictions and businesses returning to full capacity.
Retail sales increased 0.6% and totaled $621.3 billion in June, according to the Department of Commerce report released Wednesday. The monthly increase was driven by general merchandise, including food service, clothing, personal care, electronics and gasoline sales, the report showed.
“Sectors that were buoyed by the pandemic are slowing down a little bit, but not to a degree that I’d be concerned about,” Square economist Felipe Chacon told The Wall Street Journal. “Household finances have been bolstered by a few rounds of stimulus spending, so it bodes pretty well.”
President Donald Trump announced the preliminary results of his administration’s efforts to deregulate the federal government.
Before taking office, Trump pledged to roll back two regulations for every new regulation added in Washington, D.C. However, that ratio has since increased to seven regulations rolled back for every new one created, Trump said.
Ohio business owners who are fed up with Gov. Mike DeWine’s ever-lasting shutdown regulations are joining their lawsuits together into a class action against the state.
Three lawyers are working together to help combine existing lawsuits and are looking for other owners whose livelihoods are being threatened by what they say are unconstitutional orders. The suit against the DeWine administration and other government agencies was filed in the Ohio Court of Common Pleas in Lake County.