US Retail Sales Miss, But Control Group Doubles Estimates

US retail sales rose less than expected in June, data out Tuesday showed. The figures, released a week ahead of the July FOMC meeting, could allay concerns that the world's largest economy remains too hot for cool inflation, even as a key underlying aggregate printed a sizable beat. Nominal spending rose 0.2% last month, less than half the 0.5% pace economists expected, and matching the lowest guess from nearly six-dozen forecasters. May's headline print was revised higher to show a 0.5% in