While you were sleeping: US retail sales disappoint

Mon, 16 Jul 2012

By Margreet Dietz July 17 (BusinessDesk) - Wall Street fell as US retail sales declined for a third straight month, while the International Monetary Fund reduced its forecasts for worldwide growth. The global economy will expand 3.9 percent next year, which is down from the 4.1 percent pace it predicted in April, the IMF said in its latest World Economic Outlook. It kept its forecast for 2012 growth at 3.5 percent. The fund forecast that Spain’s economy will contract 0.6 percent next year, compared with its previous estimate for 0.1 percent...

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