Retail Sales Slip During June

Filed under: Economic Data, Financial Crisis

U.S. retail sales dropped 0.5% during June to a seasonally adjusted 0.2 billion, the Commerce Department announced Wednesday. This data is seen as evidence that the American economy has slowed further. Sales fell for the second month in a row.

The good news is that sales were 4.8% higher when compared to June 2009, and that for the first half of 2010, retail sales were 6.5% higher compared to last year. The decline was somewhat expected following retailers sales reports for the month. Economists had expected a drop of 0.4%.

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Retail Sales Slip During June originally appeared on BloggingStocks on Wed, 14 Jul 2010 10:00:00 EST. Please see our terms for use of feeds.

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