Retail Sales Rise at Slowest Pace in 5 Months
Sales at U.S. retailers rose in June by the smallest amount since January, but most stores except for auto dealers and home-improvement outlets boasted an improvement in revenue. Sales were also a bit stronger than previously reported in May and April, according to revised government data. That could give an extra pop to the estimate for U.S. growth in the second quarter when the government reports the preliminary figure at the end of the month. Retail sales account for about one-third of consumer spending, the main engine of economic activity, and the report helps determine gross domestic product.