ASSOCIATED PRESS: Americans spent less in June than expected.
ASSOCIATED PRESS: Americans spent less in June than expected.
Retail sales fell 0.3 percent in June, the Commerce Department said Tuesday, the weakest showing since February’s harsh winter weather kept shoppers indoors. That followed a robust 1 percent jump in May, though that was revised down from a previous estimate of 1.2 percent.
Economists had expected that consumers would rein in their spending after May’s large gain. But the reversal was much sharper than projected.
