I suppose Obama and the libercrats will take responsibiity for this...
US economy appears weaker as retail sales slump
By MARTIN CRUTSINGER, AP Economics Writer
http://hosted2.ap.org/CAANR/162267dc068 ... 4e34662ae0
WASHINGTON (AP) — The outlook for the U.S. economy appeared dimmer Monday after a report that Americans spent less at retail businesses for a third straight month in June.
The report led some economists to downgrade their estimates for economic growth in the April-June quarter. Many now think the economy grew even less than in the first quarter of the year, when it expanded at a sluggish 1.9 percent annual rate.
Spending in June fell in nearly every major category — from autos, furniture and appliances to building, garden supplies and department stores. Overall, retail sales slid 0.5 percent from May to June, the Commerce Department said.
Retail sales hadn't fallen for three straight months since the fall of 2008, at the height of the financial crisis.
Risks to global growth rising: IMF
Published: 16/07/2012 at 09:48 PM Online news: World 0
The International Monetary Fund stepped up its warnings Monday on risks to the global economy, especially coming from Europe, as it trimmed its growth forecast for the rest of the year.
The IMF also singled out the overhanging risk from US political stasis that could send the country over a "fiscal cliff" due to laws that, if not changed, will force massive government spending cuts coupled with automatic tax hikes on January 1 that would severely crunch the world's largest economy