Retail Sales Decline for Second Straight Month
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Retail sales fell in June for the second straight month, more evidence that the recovery will slow in the second half of the year. Spending on retail goods dropped 0.5 percent in June, the Commerce Department reported Wednesday. That followed a 1.1 percent fall in May. Excluding autos, spending was down 0.1 percent in June. Pulling down the overall June figures was a drop in auto sales and declining gas prices. When taking those out, sales would have risen 0.1 percent for the month.