Retail Sales in U.S. Rose Less Than Forecast in July
This article is for subscribers only.
Sales at U.S. retailers rose less than forecast in July, indicating a lack of jobs is prompting Americans to hold back on spending.
The 0.4 percent increase, led by autos and gasoline, followed a revised 0.3 percent drop in June, figures from the Commerce Department in Washington showed today. Economists projected a 0.5 percent gain, according to the median estimate in a Bloomberg News survey. Excluding auto dealers and gasoline stations, purchases fell 0.1 percent.