Commentary: Retail sales fell in May for the first time in 11 months as auto sales dropped sharply, but the decline was less than expected, offering a hope of a pick-up in economic activity as the second half of 2011 gets underway. Overall retail sales for May were 0.2% lower while the component of the report that excludes auto sales was up a reasonable 0.3%.
In a separate report, the Labor Department said the May Producer Price Index, a measure on inflation pressures at the factory gates, rose by 0.2%. The core rate of inflation, a value that excludes the more volatile food and energy components, rose a matching 0.2%. There are signs that faster price inflation at the intermediate stages of production is beginning to rise - nothing threatening yet - but strong enough economists and investors will be keeping a close eye on this report in coming months.
THE MARKET IS ALWAYS RIGHT! . YOU AND I ARE SOME OF THE TIME
