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US retail sales drop in Nov for 5th straight month

Published 12/12/2008, 08:35 AM
Updated 12/12/2008, 08:40 AM
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WASHINGTON, Dec 12 (Reuters) - Sales at U.S. retailers posted a fifth straight drop in November as gasoline sales took a record tumble, according to government data on Friday that showed consumers still shopping despite the recession.

The Commerce Department said total retail sales fell 1.8 percent to a seasonally adjusted $355.66 billion last month following a revised 2.9 percent plunge in October. Excluding motor vehicles and parts, sales were down 1.6 percent in November after a revised 2.4 percent October fall.

The November sales decline was slightly less than the drops of 1.9 percent for total sales and 1.8 percent for sales excluding motor vehicles forecast by Wall Street economists surveyed by Reuters. Sales of furniture, electronics and clothing were up last month after decreasing in October.

Gasoline sales plummeted a record 14.7 percent after falling 12.9 percent in October. Prices at the pump have fallen significantly and that is reflected in the retail sales report, which compiles total sales by gasoline stations. (Reporting by Glenn Somerville; Editing by Andrea Ricci)

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