Retail Sales Returning to Pre-COVID 19 Level

Retail sales in the United States jumped 7.5% sequentially in June 2020, following an upwardly revised record 18.2% rise in May. The reading surpassed market forecasts of a 5% gain as the coronavirus-led lockdown eased further.

Consumer spending makes up about 70% of U.S. economic activity. Thus, any massive jump in it will likely brighten the economic growth picture. This article highlights a few areas and the related ETFs that benefited the most.