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Retail Sales Little Changed as Americans Reluctant to Splurge

From bloomberg.com

Sales at U.S. retailers were little changed in April, starting the second quarter on a weak note as Americans remained reluctant to splurge. The reading followed a revised 1.1 percent gain in March that was the biggest in a year and larger than previously estimated, Commerce Department figures showed Wednesday in Washington. The median forecast of 88 economists surveyed by Bloomberg called for a 0.2 percent gain in April. Consumers have been using the windfall from cheap gasoline to boost savings as wages have been slow to pick up, which may temper the projected rebound in U.S. growth this quarter. At the same time, ... (full story)

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  • Category: High Impact Breaking News