Friday, June 11, 2010

Retail Sales Fall 1.2%

Retail Sales in U.S. Fall as Consumers Boost Savings

FBN's Ashley Webster on what led retail sales to fall 1.2% last month, worst than economists expected.
June 11 (Bloomberg) -- Sales at U.S. retailers unexpectedly fell 1.2 percent in May, the biggest drop since September 2009, signaling consumers boosted savings as employment slowed and stocks fell. The drop follows a 0.6 percent April gain that was larger than previously estimated, Commerce Department figures showed today in Washington. Bloomberg's Mike McKee and Jon Erlichman report. (Source: Bloomberg)

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