Retail Sales Decline
U.S. retail sales slipped in May for the second consecutive month, reflecting lower gasoline prices and cautious spending elsewhere.</br></br>Separately, U.S. wholesale prices fell by the most in nearly three years due to a big drop in energy costs.</br></br>Retail and food service sales decreased 0.2% last month to a seasonally adjusted $404.60 billion, the Commerce Department reported Wednesday. Sales were up 5.3% year over year.</br></br>Economists surveyed by Dow Jones Newswires had forecast a 0.3% decline.</br></br>Retail sales in April fell a downwardly revised 0.2%, compared with a previously reported 0.1% gain.