US retail sales tumbled a second straight time in June, falling more than expected in a sign consumer spending is slowing and draining steam from an economy saddled with high joblessness. Sales decreased 0.5 percent, the Commerce Department said Wednesday. Economists surveyed by Dow Jones Newswires had forecast a 0.3 percent decline. The report was [...]
WASHINGTON, June 23 (Reuters) – Sales of new U.S. homes dropped a record 32.7 percent in May to the lowest level in at least four decades as the boost from a popular tax credit faded, adding to worries of a slowing economic recovery. The Commerce Department said on Wednesday single-family home sales tumbled to a [...]
(Reuters) – Housing starts fell more than expected in May to a five-month low as a homebuyer tax credit expired while plunging energy costs pushed producer prices lower, buying time for the Federal Reserve to maintain its ultra-low interest rate policy. New home building dropped 10 percent to a seasonally adjusted annual rate of 593,000 [...]
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