By Emily Kaiser 1 hour, 3 minutes ago WASHINGTON (Reuters) - Retail sales last month dropped the most in more than three years while a measure of New York state manufacturing hit its lowest since the index started in 2001, intensifying recession fears.A wholesale inflation index eased, suggesting the Federal Reserve has room to lower benchmark interest rates further to try to prop up an increasingly shaky U.S. economy.
Retail sales fell 1.2 percent in September to a seasonally adjusted $375.5 billion, the Commerce Department said on Wednesday. It was the sharpest drop since August 2005 and far greater than the 0.7 percent decline economists had expected.
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