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Retail Sales Drop in August |
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The Associated Press reported today that sales at the nation’s retailers fell for the second month in a row.
The report cited a Commerce Department announcement September 12 that retail sales dropped by 0.3 percent in August, while economists were looking for sales to rise by 0.3 percent, and that revised July sales were off .5 percent, more than had been reported originally. Economists are noting that rising unemployment, rising fuel prices and falling home pricesare making shoppers more cautious.
The numbers look worse when automotive purchases -- up in August -- are excluded. Non-auto retailers saw sales decline 0.7 percent, the worst showing since December 2007. Commerce sais sales fell at electronics and appliance stores, clothing shops, building and garden stores, and department stores. Gasoline sales also were off despite falling prices.
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