US Retail Sales Rise More Than Expected in July

US retail sales rose more than expected in July, which could help to allay financial market fears of a sharp economic slowdown that were fanned by a jump in the unemployment rate.

Retail sales increased 1.0 percent last month after a downwardly revised 0.2 percent drop in June, the Commerce Department’s Census Bureau said on Thursday.

Economists polled by Reuters had forecast retail sales, which are mostly goods and are not adjusted for…