Slow growth in US retail sales

  • Even though US retail sales grew in the month of June, it was still at a slower rate than expected. Hence, the American economy in fact looks weaker than any economists had thought.

    A report on consumer spending revealed that Americans bought more cars, clothes and other such things but spent much less at restaurants and on electronics. Overall retail spending increased by 0.4 percent between the months of June and May but the core retail sales increased by only 0.15 percent.

    According to economists, this would mean a slower economic growth but many also expect the growth to rebound.