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Financial News: U.S. Retail Sales Unexpectedly Drop 0.2% In June

U.S. Retail Sales Unexpectedly Drop 0.2% In June

07/14/2017 - 08:36:00 (RTTNews)

(RTTNews) - A report released by the Commerce Department on Friday showed U.S. retail sales unexpectedly decreased for the second consecutive month in June.

The Commerce Department said retail sales fell by 0.2 percent in June after edging down by a revised 0.1 percent in May.

The continued drop in sales surprised economists, who had expected sales to inch up by 0.1 percent compared to the 0.3 percent decrease originally reported for the previous month.

Excluding auto sales, retail sales still dipped by 0.2 percent in June following the 0.3 decline seen in May. Ex-auto sales were expected to rise by 0.2 percent.

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