Retail Sales Rise Less Than Expected In June
(RTTNews) - Government statistics released on Tuesday showed a weaker-than-expected increase in June retail sales. This could spark fears that the economy has yet to reach a clear bottom.
A government report showed that retail sales climbed 0.1% for June. This was well below the increase of 0.5% predicted by economists.
Excluding auto sales, retail sales climbed 0.8% in June.
May’s retail sales result was revised lower. The newest data showed a 0.8% increase for the month, compared to the 1% advance that was originally reported.
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