WASHINGTON, May 30 (UPI) -- U.S. retail sales receipts fell 0.5 percent in the week ending Saturday, the fifth consecutive weekly decline, a national trade group said.
The International Council of Shopping Centers in Washington said sales dropped week-to-week, but rose 2.9 percent compared to the same week a year earlier.
The trade group said the five-week trend is "echoed" in the Conference Board's index of consumer confidence, which dropped in May to its lowest reading since January.
The lack of confidence appears to be offsetting warm weather, which could send shoppers into stores, and lower gasoline prices, which adds to discretionary spending.
Weather Trends International said the week was 2.2 degrees Fahrenheit warmer than the same week of 2011. The U.S. Energy Information Administration said the national average price of gasoline fell 4.5 cents in the week to $3.669 per gallon.
The price of gasoline has fallen 27.2 cents per gallon over the past eight weeks.
