Change: Retail sales dip for the second month in a row — for the first time in almost two years.
The silver lining? Part of the dip can be attributed to declining gas prices. People might be buying the same amount of gas, but spending less for it. Then again, gas prices are slack because demand is slack — because we’re too broke to travel this summer.
$5 gas is tolerable, when incomes are rising and people can afford it. $3 gas sucks when you’re unemployed and underwater on your mortgage.