Retail sales dip for second time in 2 months Save Email Print
Washington, DC
Posted: 10:15 AM May 13, 2008
Last Updated: 10:15 AM May 13, 2008
Reporter: The Associated Press

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Consumers, who are battling soaring gasoline prices and a slumping economy, cut back further on their spending in April.

The Commerce Department reports that retail sales dipped two-tenths of a percent last month, right in line with economists' expectations.

It was the second drop in the past three months and was led by a two-point-eight percent decline in auto sales, the biggest setback in this category in 10 months. It reflected the problems that automakers are having as a weak economy and soaring gasoline prices cut into demand for new cars.

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