Weak U.S. retail sales hint at slower economic growth

U.S. retail sales unexpectedly fell in June as households cut back on purchases of automobiles and a range of other goods, which could raise concerns the economy was slowing again and temper expectations of a September rate hike. The Commerce Department said on Tuesday retail sales slipped 0.3 percent, the weakest reading since February, after May's downwardly revised 1.0 percent increase. Retail sales excluding automobiles, gasoline, building materials and food services dipped 0.1 percent