NEW YORK—In a sign that the economic recovery may be wobbling, sales at U.S. retailers fell 0.5 percent in June, a more pessimistic figure than economists had predicted, the Department of Commerce said on Wednesday.
Sales fell for the second consecutive month after seven straight months of retail sales gains, according to government data. According to some analysts, record-high unemployment rates have put pressure on disposable income and consumer spending.
The biggest sales gain came in electronics and appliances, which increased 1.3 percent from May. The latter part of the month saw Apple Inc. introduce its fourth generation of its Apple iPhone, which sold 1.7 million units over its first three days on sale.
Consumer spending fell the most in two areas—motor vehicles and gasoline. Sales of motor vehicles declined 2.3 percent and purchases of gasoline fell 2 percent. Sales of home products were up however, with electronics and appliances increasing 1.3 percent, and clothing and apparel up 0.6 percent.
Sales fell for the second consecutive month after seven straight months of retail sales gains, according to government data. According to some analysts, record-high unemployment rates have put pressure on disposable income and consumer spending.
The biggest sales gain came in electronics and appliances, which increased 1.3 percent from May. The latter part of the month saw Apple Inc. introduce its fourth generation of its Apple iPhone, which sold 1.7 million units over its first three days on sale.
Consumer spending fell the most in two areas—motor vehicles and gasoline. Sales of motor vehicles declined 2.3 percent and purchases of gasoline fell 2 percent. Sales of home products were up however, with electronics and appliances increasing 1.3 percent, and clothing and apparel up 0.6 percent.
