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Retail Sales Fell 0 5 in June
Retail sales declined 0.5% in June, the third consecutive monthly decline. Excluding autos, sales fell 0.4% as declines were broad-based in June. Revisions to growth in May were minor, but April sales were revised lower to -0.5% from the previously revised -0.2% reported last month.
Falling gasoline prices played a part in June’s decline as gasoline stations sales led the fall. Building supply stores and sporting goods and hobby stores also experienced larger declines.
The only bright spot to the report was nonstore retailers, but their sales were small and also lagged recent trends.
While retail sales remain above year-ago levels, the growth slowed to 3.8%, the first time growth has been below 4% since August 2010.
Read the report.
Retail Sales Fell 0 5 in June
The only bright spot to the report was nonstore retailers, but their sales were small and also lagged recent trends.
While retail sales remain above year-ago levels, the growth slowed to 3.8%, the first time growth has been below 4% since August 2010.
Read the report.