WASHINGTON — Retail sales dropped a greater-than-expected 0.5% in June to post their first consecutive monthly decline since early last year, the Commerce Department reported Wednesday. Retail sales excluding autos dipped just 0.1%.

Economists polled by Thomson Reuters expected that total retail sales would fall 0.2% and that sales excluding autos would be flat. The headline June 0.5% decrease followed a revised 1.1% decline in May that was originally reported as a 1.2% drop, while the 0.1% ex-autos dip followed a 1.2% decrease originally reported as a 1.1% decline.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.