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U.S. retail sales drop... again
The Commerce Department reports that retail sales declined 0.2 percent in May, the second straight monthly drop, providing yet another sign that the economic recovery is stalling. Wholesale prices also dropped by 1 percent, the most in three years. The retail slump was largely driven by sharply falling gas prices and reduced demand for building materials. In a new Reuters/Ipsos poll, concerns about the economy drove President Obama's job approval to 47 percent, from 50 percent, his lowest level since January.
T
he Commerce Department reports that retail sales declined 0.2 percent in May, the second straight monthly drop, providing yet another sign that the economic recovery is stalling. Wholesale prices also dropped by 1 percent, the most in three years. The retail slump was largely driven by sharply falling gas prices and reduced demand for building materials. In a new Reuters/Ipsos poll, concerns about the economy drove President Obama's job approval to 47 percent, from 50 percent, his lowest level since January.

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