ECONOMY

U.S. retail sales barely rise in June

Sales at retailers rose a tepid 0.2% in June, reflecting a shift in consumer spending habits and a sign of softness in some parts of the U.S. economy.

Sales had been forecast to increase 0.5%, based on a Wall Street Journal poll of economists.

Sales advanced 0.2% if autos are excluded. Auto sales have an outsized impact on total retail receipts.

Retail sales represent about one-third of consumer spending and usually offer clues on the strength of the economy. Yet the retail report has been less reliable as a bellwether because Americans are spending more on services than they are on goods. Retailers mostly sell goods.

Overall consumer spending is still fairly strong.

Source: marketwatch

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