US retail sales up again in June

US shoppers are proving resilient despite higher unemployment US retail sales rose in June for the second consecutive month, increasing 0.6%, the Commerce Department said. The increase followed May's 0.5% gain, and was better than analyst expectations of a 0.4% rise. The increase in retail sales was led by petrol, cars and auto parts. When these were excluded, sales dropped 0.2%, their fourth straight decline. Separate figures from the Labor Department showed that US wholesale prices increased in June. Its Producer Price Index (PPI) rose by 1.8%. Excluding food and energy bills, core wholesale prices were 0.5% higher. Petrol sales rose 5% last month, while car and auto parts sales added 2.3%. 'Mixed picture' "Retail sales looked mixed, the auto sector had a huge month, but it is bouncing off the floor," said analyst Bret Barker of Metropolitan West Asset Management. Reports and surveys are continuing to paint a contrasting picture as to whether the US recession is easing. While a recent study said consumer confidence rose last month to a 16-month high, official figures also released this month showed that US unemployment increased more than analysts had expected in June. US Treasury Secretary Timothy Geithner said on Tuesday that there were now growing signs that the US and global economies were starting to recover.