Wholesale prices fell 1.0% / Retail sales fall in May for second month in row

http://www.marketwatch.com/story/producer-prices-fall-steep-10-in-may-2012-06-13?link=MW_home_latest_news

Wholesale prices fell 1.0% in May after seasonal adjustments, with energy prices falling 4.3%, the Labor Department reported Wednesday. This is the steepest drop in the headline PPI and energy prices since July 2009. The producer price index has risen 0.7% in the past year, the government said. This is the lowest annual rate since October 2009. The core PPI - which excludes food and energy prices - rose 0.2% in May. Core prices are up 2.7% in the past year. The drop in headline PPI and the rise in the core rate were very close to estimates of economists surveyed by MarketWatch. The PPI had fallen 0.2% in April, while the core rate was up 0.2%.

 http://www.marketwatch.com/story/retail-sales-fall-in-may-for-second-month-in-row-2012-06-13



U.S. retail sales fell 0.2% in May, largely because of less spending on gas, as consumers cut overall purchases for the second month in a row. The Commerce Department also revised April sales lower to a 0.2% decline from an original reading of a 0.1% increase. It was the first back-to-back drop in two years. Excluding autos, sales fell 0.4%. Excluding gas, overall retail sales rose a slight 0.1% and were a mixed bag. Sales sank 2.2% at gasoline stations to reflect a sharp decline in oil prices. And sales fell 1.7% at building materials and home-improvement stores, 0.5% at general-merchandise stores and 0.2% each at bars, restaurants and grocery stores. Yet auto sales climbed 0.8%, as did sales at electronics and appliance stores. Internet retailers posted a 1.3% increase and clothing stores saw a 0.9% gain last month. Before the retail report, economists surveyed by MarketWatch had expected sales to decline 0.3% in May, or by a smaller 0.1% excluding auto