US retail sales weaker than expected in June

WASHINGTON, July 18 (AFP): Retail sales in the United States came in weaker than expected in June, the government reported Tuesday, with consumption remaining sluggish while inflation eases.
US retail sales rose 0.2 per cent to $689.5 billion last month, while May's figure was revised slightly higher, said the Commerce Department.
This comes as consumers in the world's biggest economy have been depleting savings accumulated during the Covid-19 pandemic, resulting in a hit on spending.
Sales involving motor vehicles and parts weakened last month, while those at food and beverage stores as well as grocery stores declined on a monthly basis, the latest report showed.
Gasoline station sales slipped 1.4 per cent as well from May, while department stores saw a 2.4 per cent drop.