WASHINGTON (AFP) — US retail sales fell for the fifth straight month in November, dipping 1.8 percent amid weak consumer sentiment and tight credit conditions in a deepening recession, government data showed Friday.
The decline reported by the Commerce Department was less than analysts' consensus forecast of a drop of 2.0 percent.
Retail and food services sales for November posted a decrease of 1.8 percent from October, the department said.
The figure was lower than the revised 2.9 percent plunge posted in October but was the fifth consecutive decline, underscoring predictions the economy appeared headed for an even deeper contraction amid global financial turmoil.
The November decline was dominated by vehicle and gasoline retailers, unlike the broad-based October decline.
Excluding motor vehicle sales, which have dragged down the indicator in recent months, retail sales fell 1.6 percent -- lower than the revised 2.4 percent in October, the government data showed.
The latest retail figures showed "consumers continue to cut back on their spending in the face of large losses in jobs and wealth," said Scott Hoyt, senior director of consumer economics at Moody's Economy.com.
"Lower gasoline prices are doing little to prop up sales at other retailers," he said.
But he added that on the plus side, declines in November were more concentrated at gas stations and auto dealers than recent months.
Core sales, which exclude those retailers, posted positive growth after three months of declines, Hoyt said.
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