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To: Wally Mastroly who wrote (6762)	7/14/1999 8:58:00 AM
From: Wally Mastroly	Read Replies (1) of 15132

U.S. retail sales keep rising in June; & more on PPI: WASHINGTON, July 14 (Reuters) - Sales by U.S. retailers edged higher in June following a May surge as new-car sales weakened from a record pace, a Commerce Department report on Wednesday showed. Total retail sales rose 0.1 percent last month to a seasonally adjusted $243.32 billion after an upwardly revised 1.2 percent jump in May that previously was reported as a 1.0 percent increase. New-car dealer sales that account for one-quarter of total monthly business dropped 1 percent to $60.69 billion in June after a 3.5 percent rise in May when car sales set a record. Excluding sales by new-car dealers, June retail sales gained 0.4 percent after a 0.5 percent May pickup. Wall Street analysts surveyed by Reuters had forecast that overall June sales would rise 0.3 percent, and that sales excluding automobiles would be up 0.4 percent. Consumer spending has been the key ingredient driving the current expansion, now in its ninth year of unbroken growth. Ample jobs and rising incomes have fostered high levels of confidence and optimism that has made it easier for consumers to spend. The June sales figures imply some easing in spending momentum but no sharp falloff. During June, sales at merchandise stores climbed 0.5 percent to $31.73 billion after a 0.3 percent May increase. Clothing store sales gained 0.2 percent to $11.23 billion following a 0.7 percent May rise. Besides new cars, sales also slowed in June for gasoline, down 0.4 percent to $13.26 billion after a 1.0 percent decrease in May. Prices for gasoline have leveled off, which accounts for much of the monthly decline in the sales total. usatoday.com - More on PPI: Message 10499304

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