(AP) - One analyst says the latest numbers on retail sales raise questions about whether consumer spending can keep the nation out of a recession. The government says retail sales fell by four-tenths of one percent last month, the worst showing in six months.
The report was much weaker than many economists expected. With the strains of high energy bills, a deteriorating job market, and a persistent housing slump, consumers held onto their money.
Meanwhile, despite a slight drop in wholesale prices last month, inflation at the wholesale level for all of 2007 stands at 6.3 percent.
On Wall Street, stocks have been sharply lower in morning trading, with the Dow losing more than 200 points.
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