U.S. retail sales down 0.2 percent in May |
Last Updated(Beijing Time):2012-06-14 08:06 |
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U.S. retail and food services sales decreased 0.2 percent in May, following a revised 0.2-percent decline in April, the U.S. Department of Commerce reported Wednesday.
The department said the combined retail and food services sales in May dropped to a seasonally adjusted 404.6 billion U.S. dollars. The figure was 5.3 percent above the level a year ago.
Excluding autos, retail and food services sales in May totaled 331 billion dollars, down 0.4 percent from April, but still up 4.3 percent from a year earlier.
Retail sales at gasoline stations plunged 2.2 percent last month, after a 1.4 percent drop in April.
Consumer spending accounts for about 70 percent of U.S. economic activity. Many economists fret that a slower job growth and paltry wage increases may be leading consumers to pull back on spending. |
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