Retail sales tick up just 0.2 percent in June WASHINGTON (AP) — U.S. retail sales increased slightly in June, evidence that consumers remain cautious despite steady job gains this year. Retail sales rose just 0.2 percent last month, the Commerce Department said Tuesday, held back by a sharp drop at building materials and garden supply stores. Sales also fell at restaurants and at auto dealers. The figures suggest that Americans are reluctant to spend freely, which could slow growth in the April-June quarter. While employers have stepped up hiring since January, wage growth remains weak and is barely keeping up with inflation. Retail sales are closely watched because consumer spending accounts for 70 percent of the economy. Still, there were some good signs: A measure of retail sales that excludes volatile categories such as gasoline and autos rose at a solid 0.6 percent clip. Clothing stores, sporting goods stores and department stores all recorded sales gains. And a category that includes online and catalog retailers jumped 0.9 percent in June and has increased 8.1 percent in the past 12 months. That’s nearly double the 4.3 percent growth in overall retail sales in the past year. Sales at auto dealers fell 0.3 percent, which contradicts strong data released by the [...] geogianews/retail-sales-tick-up-just-0-2-percent-in-june/
Posted on: Tue, 15 Jul 2014 15:31:03 +0000
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