Retail sales follow May slump with smaller swoon in June
Retail sales fell in June for the second straight month, more evidence that the recovery will slow in the second half of the year.
Retail spending dropped 0.5 percent in June, the Commerce Department reported. That followed a 1.1 percent fall in May. Excluding autos, spending was down 0.1 percent in June.
Much of the weakness last month came from a drop in auto sales and a decline in gasoline prices. Excluding autos and gasoline, sales would have risen 0.1 percent in June after having plunged 1 percent in May.