U.S. retail sales in May are weakest in 16 months

U.S. retailers in May reported the biggest decline in sales in 16 months, largely owing to lower gasoline prices and fewer Americans buying new cars and trucks.

Sales at retailers nationwide sank 0.3% last month, the biggest drop since January 2016, the government reported Wednesday. The May sales report was generally weak across the board.

Economists polled by MarketWatch had forecast flat sales in May.

http://www.marketwatch.com/story/us-retail-sales-in-may-are-weakest-in-16-months-2017-06-14