U.S. retail sales rise in line with expectations
Retail and food services sales rose 0.5% to $506.8bn from a month earlier - an increase that matched the average forecast from economists. The percentage gain for May was revised up to 1.3% from an earlier estimate of 0.8%.
Compared with June 2017 sales rose 6.6%, the U.S. Census Bureau said.
Excluding the automotive industry, retail sales were up 0.4%, also as expected. Month-on-month sales rose 1% at motor vehicle dealerships and 1.5% at food services and drinking places.
Control group sales, which exclude car sales, food services, building materials and petrol stations, were unchanged after rising the previous month. Economists had on average expected control group sales to rise 0.4% in June.
Sales fell 2.5% at clothes stores, 1.8% at department stores and 3.2% at stores catering for sports, books and other hobbies. ■