14 Jun 2012

US retail sales down again

5:41 am on 14 June 2012

Retail sales in the United States have fallen for a second consecutive month.

Figures from the Commerce Department show sales slipped by 0.2% in May.

Revised data also showed that retail sales fell by 0.1% in April, worse than the initial estimate of a 0.1% rise.

Sales excluding motor vehicles fell 0.4%, the biggest decline in two years.

GDP figures last month showed that the US economy grew at an annualised pace of 1.9% in the first three months of 2012, down from an initial estimate of 2.2%.