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Retail sales point to flagging economic momentum B

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Post# of 28539
Posted On: 04/13/2013 8:27:57 AM
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Posted By: testuser
Retail sales point to flagging economic momentum

A shopper carries bags from Tiffany & Co. jewelers along 5th Avenue in New York City By Jason Lange WASHINGTON (Reuters) - Retail sales contracted in March for the second time in three months and consumer confidence tumbled in April, a sign tax hikes early this year stole momentum from the economy. Sales fell 0.4 percent in March, missing analysts' expectations for a flat reading, Commerce Department data showed on Friday. The data suggests consumer spending was considerably weaker in the first quarter than analysts previously believed, and many cut economic growth forecasts for the period. ...




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