US retail sales fell in June for the third straight month, the longest run of consecutive drops since 2008.

Sales slipped 0.5 per cent, with declines across a wide swath of industries from electronics and cars to building supplies, the commerce department said yesterday.

The report adds to a spate of soft economic data that is raising pressure on President Barack Obama ahead of his November re-election bid. Republican challenger Mitt Romney is focusing his campaign on the weak economy.

The dollar declined against the euro and the yield on 10-year US government bonds dropped to an all-time low as the data stoked worries the economy was floundering and could need Federal Reserve help. – (Reuters)