U.S. retail sales unexpectedly fall in May

WASHINGTON, June 11 (BestGrowthStock) – Sales at U.S. retailers
unexpectedly fell in May for the first time since September,
pulled down by a record slump in purchases of building
materials, according to a government report on Friday that
added to fears the economic recovery was losing some steam.

The Commerce Department said total retail sales dropped 1.2
percent, the largest decline since September, after rising by
an upwardly revised 0.6 percent in April. Sales in April were
previously reported to have increased 0.4 percent.

Retail sales had risen for seven straight months.

Analysts polled by Reuters had forecast retail sales rising
0.2 percent last month.

Compared to May last year, sales were 6.9 percent higher.

Stock Market
(Reporting by Lucia Mutikani, Editing by Chizu Nomiyama)

U.S. retail sales unexpectedly fall in May