Retail Sales Fall Again: Retail sales fell...
From Times Staff and Wire Service Reports
Retail Sales Fall Again: Retail sales fell a surprising 0.7% in May to a seasonally adjusted $146.84 billion, marking the first time since the last recession that sales have retreated three months in a row, the Commerce Department said. Wall Street economists had forecast a slight 0.1% gain. The May decline follows a revised decline of 0.9% in April and a 0.4% dip in March. Officials said the last time retail sales fell for three consecutive months was between September and November, 1981, when the country was mired in a severe recession. Analysts saw the report as a reflection of fading consumer confidence.
