Retail Sales, Economic Recovery | featured news

Retail sales fell for a third straight month in June as demand slumped for everything from cars and electronics to building materials, a sign the economic recovery is flagging.

U.S. retail sales climbed at the fastest rate in four months during February, increasing by 1.0% from the previous month to $387.12 billion.

Retail sales in the U.S. climbed more than forecast in September, easing concern that unemployment stuck near a 26-year high will bring the recovery to a halt.

Retail sales fell in June for the second straight month, more evidence that the U.S. economic recovery will slow in the second half of the year.

The 0.3 percent increase, the biggest since November, provided hope that the recovery was gaining momentum.

Consumers spent more on gasoline and a wide range of other goods, data showed, raising hopes of a self-sustaining economic recovery.

Disappointing performance underscores concerns about the timing and durability of a recovery.

The number of newly laid-off Americans filing jobless claims fell more than expected last week and retail sales grew in May for the first time in three months, fresh evidence that the worst of the recession may have past.