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Sales fizzle in June
The beginning of summer didn't give a boost to consumer spending as retail sales fell for the second straight month. Retail sales unexpectedly slipped 0.1% in June after being unchanged in May. Sales were up 3.2% unadjusted from June 2016, according to the National Retail Federation, and 3.9% on a three-month moving average year-over-year. (The numbers exclude automobiles, gasoline stations and restaurants.) -
Proposed border tax would hurt these retailers the most
Proposed reforms to the nation's tax code would hurt smaller retailers more than larger ones. The National Retail Federation said smaller retailers and their employees would suffer more than large companies under a proposal to create a border adjustment tax that would drive up the price of imported merchandise.

