14 Jul 2015
US advance retail sales fall 0.3% in June
FXStreet (Mumbai) – The retail sales in the US unexpectedly contracted in June, thereby raising questions on whether the economy is strong enough to sustain a rate hike in 2015.
The data released by the US commerce department on Tuesday showed the retail sales dropped 0.3% in June following a 1.2% growth seen in May. The consensus estimate had called for a reading of 0.3%.
Retail sales ex-Autos dropped 0.1% in June from 1.0% in May. Markets were expecting the number at 0.5%. The decline in the retail sales comes after three straight months of rebound in the retail sales.
Meanwhile, the import-price index declined 0.1% last month after advancing 1.2% in May, according to Labor Department figures. Excluding fuels, prices fell 0.2 percent last month.
The data released by the US commerce department on Tuesday showed the retail sales dropped 0.3% in June following a 1.2% growth seen in May. The consensus estimate had called for a reading of 0.3%.
Retail sales ex-Autos dropped 0.1% in June from 1.0% in May. Markets were expecting the number at 0.5%. The decline in the retail sales comes after three straight months of rebound in the retail sales.
Meanwhile, the import-price index declined 0.1% last month after advancing 1.2% in May, according to Labor Department figures. Excluding fuels, prices fell 0.2 percent last month.