(Reuters) - Retail sales fell for a second straight month in May and wholesale prices dropped by the most in three years, offering more evidence of a downshift in the economic recovery.
Retail sales slipped 0.2 percent as demand for building materials sagged and declining gasoline prices weighed on receipts at service stations, a Commerce Department report showed on Wednesday. April's sales were revised to show a 0.2 percent drop instead of the previously reported 0.1 percent gain.
Motor vehicle sales rose 0.8 percent, a surprise given that manufacturers reported weak unit sales during the month. Excluding autos, sales fell 0.4 percent, the biggest decline in two years, after dropping 0.3 percent the prior month.