Retail sales in record fall, but sentiment up

WASHINGTON (Reuters) – Sales at U.S. retailers suffered a record decline in October as fears of recession sapped spending, but part of the drop was due to slumping gasoline prices, which helped buoy consumer confidence this month.

The Commerce Department said on Friday that retail sales slumped 2.8 percent in October to a seasonally adjusted $363.7 billion, the largest decline since the department's current methodology was adopted in 1992, as mounting unemployment hit shoppers' appetites.

Source: Reuters – Read Full Story

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