2012.06.13 14:44:53 *Fitch: Credit Bank of Mosco Ratings Constrained by Rapid but Slowing Planned Loan Growth

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US Retail Sales May Apr ! Consensus: !
Overall: -0.2% -0.2%r ! -0.3% !
Ex-Autos: -0.4% -0.3%r ! Actual: !
! -0.2% !
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By Jeffrey Sparshott and Tom Barkley
Of DOW JONES NEWSWIRES

WASHINGTON--U.S. retail sales slipped in May for the second
consecutive month, reflecting lower gasoline prices and cautious
spending elsewhere.

Retail and food service sales decreased 0.2% last month to a
seasonally adjusted $404.60 billion, the Commerce Department reported
Wednesday. Sales were up 5.3% year over year.

Economists surveyed by Dow Jones Newswires had forecast a 0.3% decline.

Retail sales in April fell a downwardly revised 0.2%, compared with a
previously reported 0.1% gain.

That marks the first time in nearly two years that retail sales have
fallen in consecutive months.

Consumer spending is a big driver of economic growth. Early this year,
retail sales helped the recovery.

But consumers now appear more cautious, and policy makers at the
Federal Reserve have worried that demand might not be strong enough to
propel faster growth and job creation.

High unemployment and a chronically weak housing market have made
consumers wary through much of the recovery.

In one potentially positive sign, Wednesday's report showed that
gasoline station sales dropped 2.2%.

The national average retail price of regular gasoline fell 4 cents a
gallon to $3.572 a gallon in the week ended Monday, according to the
Energy Information Administration. The drop was the 10th straight
weekly decline. Nationwide prices have dropped 36.9 cents, or 9.4%,
since reaching a 10-month high of $3.941 in April.

Lower gasoline prices mean that consumers have more money in their
pockets to spend elsewhere. Excluding gasoline, retail sales rose 0.1%
last month.

And auto sales have been a bright spot in an otherwise tepid recovery.
Motor vehicle sales and parts were up 0.8% in May, Commerce said.

Americans bought 1,334,600 new vehicles last month, researcher
Autodata Corp. reported earlier this month.

But activity elsewhere were mixed. Excluding autos, retail sales fell
0.4% in May, after sliding 0.3% the previous month. May's decline was
the biggest in two years.

Building and garden equipment sales dropped 1.7%, while food, health
care, sporting goods and general merchandise stores also saw weaker
sales.

Sales from electronics, furniture, clothing and nonstore retailers--a
category that includes online purchases--all rose.

The Commerce Department's retail sales report can be found at
http://www.census.gov/retail/marts/www/marts_current.pdf.

-Jerry A. DiColo and Jeff Bennett contributed to this article.
Write to Jeffrey Sparshott at jeffrey.sparshott@dowjones.com and
Tom Barkley at tom.barkley@dowjones.com.

(END) Dow Jones Newswires

June 13, 2012 08:45 ET (12:45 GMT)