May retail sales fall for first time in 11 months

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May retail sales fall for first time in 11 months (by Greg Robb)

WASHINGTON (MarketWatch) - Sales at U.S. retailers declined 0.2% in May to a seasonally adjusted $387.1 billion, the Commerce Department estimated Tuesday. This is the first decline after ten months of gains. Sales rose a downwardly revised 0.3% in April. Details of the May report were mixed. Ahead of the report, economists surveyed by MarketWatch expected total sales to fall 0.7% in May. Excluding the 2.9% drop in motor vehicle sales, retail sales rose 0.3%. Economists had expected sales excluding autos to be unchanged. Core sales, excluding autos, gasoline and building materials, rose 0.2% in May.

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