Strong US retail sales raise hopes of ‘soft landing’

Strong US retail sales data and robust results from Walmart boosted markets and increased confidence that the US economy will avoid a recession and achieve a “soft landing”.

Retail sales leapt 1 per cent in July, the Census Bureau reported on Thursday, the most in a year and a half and far above economists’ forecasts for a 0.3 per cent increase.

Shares in Walmart, the world’s largest retailer, were up 6.7 per cent during lunchtime…