West Technology Limited’s Weblog

December 13, 2008

U.S. retail sales fell for the fifth consecutive month

Filed under: news, Internet news
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12, the U.S. Department of Commerce released data showed U.S. retail sales in November fell 1.8 percent, lower than the decline in October’s 2.9 percent and analysts expected 1.9 percent, but fell for the fifth consecutive month . This is the government began tracking retail sales data has been the longest continuous decline in the first.

     Data show that in November, sales of motor vehicles and parts fell by 2.8 percent, but lower than the decline in October’s 5.5 percent. Excluding auto sales one, in November retail sales fell 1.6 percent, decline 2.4 percent lower than in October.

     November gasoline sales fell by 14.7 percent, greater than the decline in October’s 12.9 percent, mainly due to the significant downturn in the retail price of gasoline has been far below the record summer of more than 4 U.S. dollars per gallon historical high Point.

     At the same time, department store sales increased 2.1 percent, while the decline in the previous month to 1.2 percent; furniture store sales fell 1.0 percent last month after the switch to an increase of 0.2 percent; electronics and home Electric sales increased 2.8 percent, while the decline in the previous month to 2.0 percent.

     The data also show that in September to November of three months, total U.S. retail sales fell 4.5 percent, the previous 3 months compared to a decrease of 4.7 percent.

     Retail sales reflect the personal consumption expenditures. U.S. personal consumption expenditure accounts for two-thirds of the gross domestic product, is the main driver of growth. Analysts believe that retail sales continued to decline in the U.S. economy is a reflection of the recession.

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