Retail Sales Declined in April as Americans Cut Back on Spending

US retail sales declined last month, as Americans cut back their spending on clothes, appliances, and home and garden supplies. Sales dropped 0.2% in April, the Commerce Department said Wednesday, after a big 1.7% jump in March.

The March figure was revised upward from the originally reported figure of 1.6%. Car sales dropped 1.1% last month and sales at electronics and appliance stores dropped 1.3%.

Economists are having a difficult time gauging the mood of consumers this year. Retail sales have been on a seesaw pattern, rising at a healthy pace in January, then falling in February, followed by the big jump in March and now a drop in April… CNBC News

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