Retail sales fall.
July was another month of weak sales at retail outlets, adding to evidence that the spending power of American consumers has weakened considerably, despite help from the government’s tax stimulus program.
Retail sales declined 0.1 percent in July, led by a sharp drop in sales of motor vehicles and related parts, the Commerce Department said on Wednesday. Restaurants and health care providers also saw a drop-off in demand.
The decline follows a 0.3 percent increase in June, which was revised higher from the government’s initial estimate.
