Well, don't blame me!

Retail Purchases in U.S. Unexpectedly Decrease 0.5%

Retail sales in the U.S. unexpectedly fell for a third month in June as limited employment gains took a toll on consumers.

The 0.5 percent drop followed a 0.2 percent decrease in May, Commerce Department figures showed today in Washington. The decline exceeded the most pessimistic forecast in a Bloomberg News survey that called for a median 0.2 percent gain in sales. Other reports today showed manufacturing in the New York region picked up this month and U.S. inventories increased in May.

The retail figures prompted economists at Morgan Stanley, Goldman Sachs Group Inc. and Credit Suisse to lower their forecasts for economic growth in the second quarter. A cooling job market is sapping the household spending that makes up 70 percent of the economy, curbing sales at retailers such asTarget Corp. (TGT) and Macy’s Inc. (M) 

(h/t Instapundit.)

Not. My. Fault. I just dropped close to a grand at Bass Pro Shop and Cabelas. And Terry and I just purchased a new carpet for the dining room from Lowe's. Then there's the upcoming bill for the ATV repair...Oh, wait, all that was since July 1st. In June we just had a ball spending money all over the country for gas, meals and motel rooms. (Don't know if those count as "consumer spending" but I've nothing to show for it except miles on the odometer, a couple of extra pounds on the waist and several good night's sleep.) I guess we can expect the report for July to be a bit better since we did our part and will probably do even more. (There's a new dining room set in the near future. You know, to go with the carpet.) Unless you guys are slacking off, that is!