Retail sales fell for first time in 10 months (AP)

WASHINGTON ? Americans bought fewer cars in May, pulling retail sales down for the first time in nearly a year.

Sales among U.S. retailers fell 0.2 percent last month, the Commerce Department said. It was the first decline after 10 straight increases.

Auto sales dropped 2.9 percent, the largest decline since February 2010. When excluding autos, retail sales rose 0.3 percent.

The slump in retail sales was the latest report signaling that the economy has lost momentum. Consumers are struggling to deal with high gasoline prices and a slowdown in hiring. While the surge in gas prices eased in May, pump prices are still significantly higher than a year ago.

A lack of deals and the shortage of some fuel-efficient models in high demand were to blame for the decline in auto sales. The natural disasters in Japan disrupted shipments of cars and component parts to the United States.

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/ap/20110614/ap_on_bi_go_ec_fi/us_retail_sales

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