Sales at US retailers rose a stronger-than-expected 0.6 per cent in June, boosted by a big jump in auto sales, Commerce Department data showed today.
Economists polled by Reuters had expected a 0.4 per cent gain, after a 0.5 per cent advance in May.
Excluding autos and parts, which recorded a 2.3 per cent gain, retail sales were up a more modest 0.3 per cent, short of analysts' expectations for a 0.5 per cent advance.
Petrol stations showed strong gains, helped by rising prices. The average price per gallon of gas rose to $2.68 in June from $2.32 in May, according to government data.
Excluding both autos and gasoline, sales were down 0.2 per cent, the fourth consecutive monthly decline.
Department stores and restaurants were among the laggards, suggesting that consumers remained reluctant to resume discretionary spending despite signs the recession may be drawing to a close.
Reuters