June retail sales dip dampens consumer spending optimism
Purchases down 0.3 per cent. Eight of 13 major retail categories show declines in demand
Washington
SALES at US retailers unexpectedly dropped in June, upending optimism about the strength of the rebound in consumer spending during the second quarter.
Purchases decreased 0.3 per cent after a 1 per cent advance in May that was smaller than previously reported, Commerce Department figures showed on Tuesday in Washington. Eight of 13 major retail categories showed declines in demand.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US consumer sentiment falls as inflation expectations climb
HSBC wins £1.3 billion suit over Disney film finance scandal
WTO countries to reboot dispute reform negotiations
Fed’s preferred core inflation gauge rose at a brisk pace in March
Thames water crisis risks £100 billion UK investment plan
Indian central bank issues draft guidelines for web aggregators of loan products