June sales beat expectations

WASHINGTON — Warm weather, lower gas costs and strong Father's Day promotions apparently put consumers in a spending mood in June, boosting retail sales for the 12th consecutive month and surpassing many analysts' expectations, according to the National Retail Federation. Retail industry sales — which exclude automobiles, gas stations and restaurants — in June increased 0.3% seasonally adjusted from May, and 5.5% unadjusted year-over-year, according to NRF. "A solid year of growth in sales provides further evidence that retailers continue to lead the charge in the economic recovery," stated NRF president and CEO Matthew Shay. "While spending continues to