Investing.com - Retail sales in the U.S. rose less-than-expected in June, while core retail sales were unexpectedly flat, official data showed on Monday.
In a report, the U.S. Commerce Department said that retail sales rose by a seasonally adjusted 0.4% in June, missing expectations for a 0.8% increase.
Retail sales for May was revised down to a 0.5% increase from a previously reported gain of 0.6%.
Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy.
Core retail sales, which exclude automobile sales, was flat last month, compared to expectations for a 0.4% increase. Core sales in May rose by 0.3%.
Core sales correspond most closely with the consumer spending component of the government's gross domestic product report. Consumer spending accounts for as much as 70% of U.S. economic growth.
Following the release of the data, the U.S. dollar pared gains against the euro, with EUR/USD shedding 0.27% to trade at 1.3032.
Meanwhile, U.S. stock future indices pointed to a higher open. The Dow Jones Industrial Average futures pointed to a gain of 0.2% at the open, S&P 500 futures indicated an increase of 0.2%, while the Nasdaq 100 futures signaled a gain of 0.2%.
In a report, the U.S. Commerce Department said that retail sales rose by a seasonally adjusted 0.4% in June, missing expectations for a 0.8% increase.
Retail sales for May was revised down to a 0.5% increase from a previously reported gain of 0.6%.
Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy.
Core retail sales, which exclude automobile sales, was flat last month, compared to expectations for a 0.4% increase. Core sales in May rose by 0.3%.
Core sales correspond most closely with the consumer spending component of the government's gross domestic product report. Consumer spending accounts for as much as 70% of U.S. economic growth.
Following the release of the data, the U.S. dollar pared gains against the euro, with EUR/USD shedding 0.27% to trade at 1.3032.
Meanwhile, U.S. stock future indices pointed to a higher open. The Dow Jones Industrial Average futures pointed to a gain of 0.2% at the open, S&P 500 futures indicated an increase of 0.2%, while the Nasdaq 100 futures signaled a gain of 0.2%.