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Friday, July 13, 2007

U.S. Retail Sales Fell 0.9% in June; Drop 0.4% Excluding Autos

Sobering numbers, considering yesterday's euphoric rally...

" Retail sales in the U.S. fell in June by the most in almost two years, raising concern near-record gasoline prices and falling home values are taking a toll.

The bigger-than-forecast 0.9 percent decrease followed a revised 1.5 percent gain the prior month, the Commerce Department said today in Washington. Purchases excluding automobiles unexpectedly fell 0.4 percent, the most since September. "

The consumer really is slowing down.

Source: U.S. Retail Sales Fell 0.9% in June; Drop 0.4% Excluding Autos (http://www.bloomberg.com/apps/news?pid=20601087&sid=awxSspXYRr3s&refer=home)