Australian retail sales unexpectedly fell in June, suggesting consumers are hunkering down in response to the Reserve Bank’s 12 interest-rate increases in 15 months. Sales declined 0.8% from a month earlier, compared with estimates for a flat result, and erased all of their gains in May, Australian Bureau of Statistics data showed Friday. The result was driven by department stores and clothing and footwear, the bureau said. “There was extra discounting and promotional activity in May, leading up to mid-year sales events. This delivered a boost in turnover for retailers, but that proved to be temporary as consumers ... (full story)