US Retail Sales Decline In February

[mandy]

U.S. consumers cut spending in February and the labor market continued to weaken, suggesting the household-spending pillar that had supported the economy's expansion might be giving way.

Retail sales unexpectedly declined 0.6% last month, and the ranks of workers remaining on state unemployment benefit rolls hit the highest level in nearly 2 1/2 years...

full article: http://www.latimes.com/business/la-fi-re...?track=rss

Now the growing credit crunch that has wreaked havoc on Wall Street is settling in on Main Street.

Consumers, who fuel roughly two-thirds of economic growth, held back on spending in a wide range of areas amid surging food and energy costs and a decline in wealth as their home values tumbled.

"This is a downward spiral consistent with a recession," ...

full article: http://www.cnbc.com/id/23608627