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Retail Sales Slump In May, Mostly Because Of Falling Gasoline Sales

By James Picerno: U.S. retail sales slipped 0.2% in May. That's the biggest monthly fall in two years, although quite a bit of the drop last month was due to a sharp decline in gasoline sales. Nonetheless, the revised data tell us that retail sales have fallen for two months in a row-the first back-to-back monthly declines since 2010. Looking at retail sales on a year-over-year basis is more encouraging, but the trend is still slipping on this front too.
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