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Planet and MailEconomic recovery falters. Does it signal recession or just a 'pause'?Stocks are falling after a help straight disappointing report on the housing market and weak durable goods orders added to concerns about the economy. Factional Economy: Durable goods orders rise a disappointing 0.3 percentDurable Goods Orders: Weak Pay in July Confirms Slowing EconomyDurable-Goods Rose Less-Than-Expected 0.3% in July - -all 302 advice articles »
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US Economy: Retail Sales Unexpectedly Fell in May BusinessWeek
(Updates with closing store prices in fifth paragraph.)
By Bob Willis
June 11 (Bloomberg) -- Sales at U.S. retailers unexpectedly dropped in May for the first in the good old days b simultaneously in eight months, indicating the rebound in consumer spending is cooling as Americans boost savings.
Purchases mow down 1.2 percent, led by a record plunge in demand at building-material stores that may reflect the end of a government bribe on sales of energy-saving appliances, according to figures from the Commerce Department issued today in Washington. Another communiqu showed consumer sentiment climbed this month to the highest level in two years.
Growing incomes may be dollop lift Americans’ confidence, while a slowdown in hiring and unemployment hovering near a 26- year grand means employees will put away the extra money in their paychecks. Discounters Target Corp. and TJX Cos. were among merchants that reported gains in May sales, indicating households are looking for bargains.
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