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Retail Sales Drop 1.2% in September

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The Commerce Department released its latest results and they're not good.

Retail sales dived by 1.2% last month, the Commerce Department said Wednesday.

It was a broad decrease and the third drop in a row. Sales in August decreased 0.4%, revised down from an originally estimated 0.3% decline. July sales fell 0.6%.

Economists expected a 0.7% drop in sales during September, the final month of the third quarter. The 1.2% drop was the biggest since 1.4% in August 2005.

The retail sales report illustrates where Americans are spending their money. Consumer spending is a big part of the economy. It makes up about 70% of gross domestic product, which is the scoreboard for the economy.

The drab readings over the summer on retail sales argue the case of many analysts: the U.S. is in a recession or heading for one.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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