US retail sales unchanged in June, beating forecasts for slight drop

U.S. retail sales were unchanged in June and the underlying trend was strong, which could boost economic growth estimates for the second quarter.

The flat reading in retail sales last month followed an upwardly revised 0.3% gain in May, the Commerce Department's Census Bureau said on Tuesday.

Economists polled by Reuters had forecast retail sales, which are mostly goods and are not adjusted for inflation, falling 0.3% after a previously reported 0.1% gain in May.

INFLATION UNEXPECTEDLY FALLS TO 3% IN JUNE

Still...