Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Retail sales see longest decline in 16 years

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Glenn Somerville and Lucia Mutikani
Reuters
Friday, December 12, 2008

WASHINGTON (Reuters) – Sales at U.S. retailers fell for a fifth straight month in November, the longest decline in at least 16 years, as gasoline sales tumbled by a record amount, according to government data on Friday.

Sales were down a much more modest 0.2 percent once gasoline sales were excluded as spending on other items, such as electronics, increased. But analysts said the consumer clearly was pulling back.

“Although consumers are getting significant relief from lower gasoline prices, at this point they appear to be saving rather than spending the drop in their energy bills,” economists at RDQ Economics said in a note to client.

(ARTICLE CONTINUES BELOW)

Retail sales see longest decline in 16 years 161008pptv3

Falling gasoline prices also helped U.S. consumer sentiment improve this month, as did retail discounts and “tumbling” inflation expectations, but pessimism over the future tempered any enthusiasm, the Reuters/University of Michigan Surveys of Consumers said.

The Commerce Department said total retail sales fell 1.8 percent to a seasonally adjusted $355.66 billion last month following a revised 2.9 percent plunge in October. Excluding motor vehicles and parts, sales were down 1.6 percent in November after a revised 2.4 percent October fall.

Excluding gasoline, retail sales had fallen 1.6 percent in October

FULL STORY CLICK HERE

This article was posted: Friday, December 12, 2008 at 10:19 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
The MH17 Cover-Up: Paul Joseph Watson on the Savage Nation See the rest on the Alex Jones YouTube channel.

John Kerry Screened For Weapons Before Meeting Egyptian President See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.