June Retail Figures Disappoint

Sales at U.S. retailers rose by just 0.2 percent over the last month, the smallest increase since January, according to a U.S. Commerce Department report released today.

Several categories experienced a drop in sales last month, including automobiles and home goods. However, apparel stores, sporting goods stores and department stores all experienced slightly higher sales gains.

Retail sales are closely watched by economists because consumer spending accounts for 70 percent of the U.S. economy, according to ABC News.