US June retail sales up 7.5% but Covid-19 dashes hopes of economic recovery

US retail sales climbed a solid 7.5 per cent in June, a sign that the economy was healing right before infections from the coronavirus spiked again and dragged down hopes for a steady recovery.

The Census Bureau reported Thursday that retail sales are 1.1% higher than their levels from a year ago, after a brutal plunge in March and April was offset by a decent rebound in May and June. But any gains might be short-lived as infections began to rise toward the end of June.

While today's report gives the illusion of a fearless consumer spending lavishly, the reality is more