Mixed Retail Sales in June; CE Called "Encouraging"
Reports of U.S. retail sales in June were mixed Wednesday, as the Department of Commerce reported a 0.5 percent decrease from May, while the National Retail Federation, seeing a similar fraction of a percent decrease from May, reported a 3.3 percent year-over-year increase.
NRF's president, Matt Shay, in a statement listed electronics among "encouraging signs" heading into back-to-school season.
The government figure, according to Bloomberg News, was a second consecutive monthly drop after seven straight positive months. Purchases decreased by more than analyst expectations, Bloomberg said.