14 July 2010, 17:52  US retail sales fall

US government figures show that the country's retail sales fell by more than expected in June for a second straight month. These are the latest set of figures indicating that a US recovery is losing momentum. Sales declined 0.5% from May to $360.2 billion, according to the Commerce Department. Most economists had expected sales to decline by 0.2% after a larger, revised 1.1% fall in May. Consumer spending is a key engine of growth for the world's largest economy recovering from a brutal recession.

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