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October 15, 2008
Retail Sales Slump In September
Retail sales fell 1.2% in September as consumer spending stalled, according to the U.S. Commerce Department. The drop came at a typically busy time a year, when families are doing their back-to-school shopping and purchasing warmer winter goods.
Economists fretted over the news, given that 60% of the U.S.’s economic activity comes from consumer spending. Auto sales took the biggest hit, falling 4%, while department stores saw an average decline of 1.5%.
Posted by Blacks on October 15, 2008 10:06 AM
