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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (253507)	6/11/2010 8:31:29 AM
From: Smiling Bob	Read Replies (4) \| Respond to of 306849

Retail sales MUCH weaker than expected WHOOPS!!!! Retail sales drop 1.2 percent in May Retail sales in May plunge by largest amount in 8 months, raising worries about recovery ap Martin Crutsinger, AP Economics Writer, On Friday June 11, 2010, 8:34 am WASHINGTON (AP) -- Retail sales plunged in May by the largest amount in eight months as consumers slashed spending on everything from cars to clothing. The big drop raises new worries about the durability of the economic recovery. The Commerce Department says that spending fell 1.2 percent last month. Auto sales were down 1.7 percent but there was widespread weakness in a number of areas. Excluding autos, sales fell 1.1 percent. The big decline cast new doubts about the strength of the economic recovery. Consumer spending accounts for 70 percent of total economic activity. Economists are concerned that households will start trimming outlays as they continued to be battered by high unemployment. Copyright © 2010 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten, or redistributed without the prior written authority of The Associated Press.