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To: UnBelievable who wrote (3752)	7/14/2000 8:59:27 AM
From: UnBelievable	Read Replies (1) \| Respond to of 436258

+DJ US June Retail Sales +0.5%; Consensus +0.3% 07/14/2000 Dow Jones News Services (Copyright © 2000 Dow Jones & Company, Inc.) (MORE) DOW JONES NEWS 07-14-00 08:30 AM DJ US June Retail Sales Excluding Automobiles +0.2% (MORE) DOW JONES NEWS 07-14-00 08:30 AM DJ US May Retail Sales Revised To +0.3% From -0.3% (MORE) DOW JONES NEWS 07-14-00 08:30 AM =DJ Data Snap: June Retail Sales Rate Stronger Than Thought =========================================================== U.S Retail Sales June May !Surprise: Yes ! Overall Sales 0.5% 0.3%r !Trend:Stronger! Excluding Autos 0.2% 0.5%r !Consens.:+0.3%! =========================================================== WASHINGTON (Dow Jones)--Consumers took to spending freely again in early summer, government statistics show, even as the U.S. economy showed signs of slowing overall in the second quarter of the year. Retail sales advanced a healthy 0.5% in June to a strong seasonally adjusted level of $269.28 billion, the Commerce Department said Friday, on increased demand for automobiles and greater spending on energy-related goods. However, core demand for goods - which excludes the volatile auto sales data on the heavily weighted gauge for demand at dealerships - rose a more modest 0.2% for the month, the government said. Significantly, Commerce also revised sharply higher retail sales statistics for the previous month. May retail sales grew by 0.3%, and 0.5% when excluding the numbers from auto dealers. Total sales numbers for the month had originally been reported as falling month-over-month. The June report from the nation's retailers was generally stronger than analysts had expected, and combined with the upward revisions to the May data could prove worrisome to investors and monetary policymakers that had pinned their hopes for an overall economic slowdown on softening consumer demand. Sales were expected to have risen in June more moderately, due primarily to higher gasoline prices. The median forecast of 11 economists surveyed by Dow Jones Newswires and CNBC was for a 0.3% rise in June retail sales. In June, demand for big-ticket items advanced a strong 0.7%, the biggest increase in four months. The strength in demand for autos offset weakness at building materials suppliers and furniture stores. Nondurables sales rose 0.4% in June, mostly on the strength of higher gas prices, but demand at grocery stores and discount outlets was also higher. Despite much talk of higher gas prices swaying the overall sales data, retail sales excluding gasoline demand at the nation's shops was up 0.5% in June and 0.3% in May. The stronger-than-anticipated retail sales data is now expected to boost overall growth projections for the second quarter. Analysts had anticipated the U.S. economy to post a significant slowdown for the most recent period, but the continued consumer demand will likely force analysts to revisit their growth projections. Commerce said July's retail statistics will be announced August 11. -By Jerry Guidera, Dow Jones Newswires, 202 862-9275