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Retail sales fall unexpectedly

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Retail sales fall unexpectedly

“Core” retail sales also disappoint.

Retail sales fell 0.3% in June, according to data released by the Commerce Department today. This follows a downward revised increase of 1.0% in May, and was the lowest reading since February.

Analysts had expected a 0.2% increase in June.

Sales excluding autos, gasoline, building materials and food services, so-called “core retail sales,” also fell, decreasing 0.1% in June, compared to a 0.7% increase in May.

Analysts had expected a 0.4% increase in core retail sales.

The results reinforce the unevenness of the US economy’s recovery, and create some concern about growth for the remainder of 2015.  See the full report here.

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