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Retail sales drop is first in 8 months

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CNN Money
Friday, June 11, 2010

NEW YORK (CNNMoney.com) — Retail sales fell for the first time in eight months in May, the government said Friday, widely missing analyst expectations.

Total retail sales fell 1.2% to $362.5 billion last month, compared with April’s upwardly revised 0.6% increase, the Commerce Department said.

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Retail sales drop is first in 8 months 140410banner4

It was first decline since last September, when retail sales fell 2.3%. Economists surveyed by Briefing.com expected sales would increase by 0.2% in May.

Sales excluding autos and auto parts dropped 1.1% last month. Economists had projected sales excluding autos to edge up 0.1% in May.

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This article was posted: Friday, June 11, 2010 at 9:33 am





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