Copper Drops as Retail-Sales Slide Signals Weaker U.S. Economy

Copper futures fell for a second day this week after a report showed U.S. retail sales declined more than forecast in June, renewing concern that the economic recovery may falter.

Purchases decreased 0.5 percent last month, a second straight drop, the U.S. Commerce Department said today. Sales had been forecast to slip 0.3 percent, the median of 75 estimates in a Bloomberg News survey. Copper prices tumbled 17 percent in the second quarter, the first quarterly loss since 2008, on signs that the global economy was slowing.