US retail sales dropped 0.4 per cent in July from the month before, a slightly stronger showing than the 0.9 per cent decline forecast by Wall Street analysts.

Sales in June rose an unrevised 0.1 per cent. Excluding autos, retail sales were up 0.5 per cent in July after falling 0.1 per cent the month before. On a year-on-year basis, retail sales in July were up 5.9 per cent. Durable goods sales declined 1.4 per cent in July after gaining a revised 0.3 per cent the month before. Sales of non-durable goods rose 0.4 per cent, after a 0.1 per cent fall in June.