News

Commerce Department says US retail sales slow in July

August 13, 2014

The U.S. Department of Commerce today reported that retail sales slowed unexpectedly in July, according to Reuters.

U.S. retail sales, which account for a third of consumer spending, were slowed in part by declines at auto dealers. But core retail sales, do not include sales of automobiles, gasoline, building materials and food services, rose a moderate 0.1 percent in the month after a 0.5-percent increase in June, Reuters reported.

This contrasts with a private study indicating the month's spending hit an 11-month high.