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- U.S. retail sales decline 0.3% in June
U.S. retail sales decline 0.3% in June
The U.S. Commerce Department released the retail sales data on Tuesday. The U.S. retail sales unexpectedly fell 0.3% in June, missing expectations for a 0.3% increase, after a 1.0% gain in May. May's figure was revised down from a 1.2% rise.
The decline was partly driven by lower automobiles and clothing stores purchases. Automobiles sales fell 1.1% in June, while sales at clothing retailers slid 1.5%, the largest fall since September 2014.
Retail sales excluding automobiles decreased 0.1% in June, missing forecasts for a 0.5% rise, after a 0.8% gain in May. May's figure was revised down from a 1.0% increase.
Sales at building material and garden equipment stores were down 1.3% in June and sales at furniture stores decreased 1.6%.
Sales at electronics and appliance outlets were up 0.1% in June, whiles sales at service stations gained 0.8%.
These figures indicate that U.S. economy slowed down.
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