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US Retail Sales Rise Less Than Expected in June

Retail sales rose less than expected in June, the latest sign of a slowdown in economic growth that could argue against the Federal Reserve’s plan to start trimming its monetary stimulus later this year.

But growth is not slowing abruptly, with other data on Monday showing factory activity in New York state accelerating in July as new orders and employment improved.

Retail sales increased 0.4 percent last month, lifted by demand for automobiles and higher gasoline prices. However, sales of building materials fell by the most in a year, a potentially worrying sign for the housing market.

Sales had increased 0.5 percent in May. Economists polled by Reuters had forecast retail sales, which account for about 30 percent of consumer spending, rising 0.8 percent in June.

via Reuters [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza