Retail Sales Show Biggest Drop in Nearly 2 Years
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Consumers put away their wallets in June, sending retail sales crashing by the sharpest amount in nearly two years.
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For the year, sales of single-family homes were down by 13 percent, the biggest drop since a 17.7 percent plunge in 1982. The median price for a single-family home dropped to $217,000.
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Factory orders suffered their steepest drop in six years last month and an index of pending homes sales fell, according to data on Tuesday highlighting weak spots in the economy and risks to output.
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Sales of existing US homes fell 8% in September, the biggest decline in 16 years, a report shows.
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Retail sales fell unexpectedly in December to close out the weakest year at the cash register since 2002, data showed on Tuesday, the strongest signal yet that the economy may be sliding into recession under the weight of a housing and credit crisis.
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British retail sales fell in July for the first time in over a year, official figures showed, providing further evidence that higher borrowing costs are dampening consumer activity.
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Retail sales edged up in August but  they posted the biggest decline in almost a year when car sales  were stripped out as consumer spending softened, a government  report on Friday showed.
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U.S. retail sales dipped in August and the U.S. gap with its international trade partners widened to a record level in the second quarter of the year, government reports released on Tuesday showed.
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Most markets in Asia were down between 2 and 3 percent today, their biggest drops since the sell-off two weeks ago.
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Existing home sales posted their largest gain in two years last month, a sign the housing market may be climbing out of a slump, but orders for big-ticket factory goods fell as businesses showed wariness about the economy's health.
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New home sales posted the biggest drop on record in 2007, according to the government's latest look at the battered housing market released Monday, as a year that saw a meltdown in the mortgage market and a drop in home values ended with yet more signs of weakness.
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U.S. home prices plunged by a record 8.4 percent in November, marking two years of slowing returns, according to the Standard & Poorâs/Case-Shiller index.
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U.S. chain store retail sales fell in the latest week as unseasonable weather caused sales to slow a retail report said on Tuesday.
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Stocks fell sharply after an economic report showed retail sales fell in December and two large banks announced big investments from overseas amid rising losses.
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Retail sales posted their steepest  drop in nearly two years in June, according to government data  on Friday, indicating the housing market slump and soaring  gasoline costs are depressing consumer spending.
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US retail sales fell 0.3% in August as rising energy costs and bad weather persuaded shoppers to reduce their spending.
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Retail sales in Britain dipped in December from the previous month, falling in the crucial run-up to Christmas, according to official data published Friday.