Friday, June 11, 2010

Retail Sales Crater

More "green shoots" turn brown.
The recovery of the U.S. economy will further be called into question after Friday’s release of May retail sales, which showed a marked decline in the spending habits of consumers.

The Commerce Department said retail sales dropped 1.2% last month, well below the 0.2% increase economists had been expecting. It was the biggest drop since last September’s 2.2% falloff.

Removing sales of autos and gas, sales fell 0.8%.

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