BREAKING: Retail Sales Down for 3rd Consecutive Month - Last Time was 2008 Recession!

BREAKING: Retail sales for June down 0.5% below estimates that called for a 0.2% gain

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Thread: HORRIBLE: JUNE RETAIL SALES COLLAPSE!!! IMF cuts everyone!!!

Morning Luis!

Retail sales in the U.S. unexpectedly declined for a third straight month in June, a sign limited employment gains are taking a toll on the biggest part of the economy.

The 0.5 percent drop followed a 0.2 percent decrease in May, Commerce Department figures showed today in Washington. The decline was worse than the most-pessimistic forecast in a Bloomberg News survey in which the median projection called for a 0.2 percent rise. The June decrease was broad-based, including car dealers, department stores and gasoline stations.

A weakening job market is sapping households of the confidence and the incomes needed to boost expenditures, which account for about 70 percent of the economy. Without gains in spending at retailers such as Target Corp. and Macy’s Inc., the expansion will have a difficult time gaining momentum.

[link to www.bloomberg.com]