Retail Sales Rise, Miss Projections In June

By  |  July 15, 2013
 | 

The Commerce Department found on July 15 that Retail sales increased 0.4 percent in June, Reuters reported.

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    While this could be seen as positive news, this figure fell below the expectations of economists, who had earlier predicted a 0.8 percent rise. The uptick in retail sales was driven by automobile demand and gas prices.

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    Goldman Sachs and Barclays both reduced their second-quarter GDP growth estimates in response to the announcement.

    For more on this story, read the full report here.


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