Retail Sales Dissapointing..Duh?!

Posted by Kris | Wednesday, October 15, 2008 | | 0 comments »

Wall Street pulled back again Wednesday after economic data raised the possibility that the country is either in a recession or moving toward one. The government's report that retail sales plunged in September by 1.2 percent -- almost double the 0.7 percent drop analysts had expected -- raised the possibility that consumers may not be as willing to reach for their wallets in the coming months as they worry about a shaky economy.

Oil falls to 13-month low on economic weakness
Wednesday October 15, 11:18 am ET

By Ikuko Kao

LONDON (Reuters) - Oil prices fell on Wednesday to their lowest in 13 months, dragged down by expectations that economic weakness will cut further into demand for crude.

U.S. crude was down $3.76 a barrel at $74.87 by 11:04 a.m. EDT. It touched a session low of $74.62, its lowest since September last year.