Retail sales point to flagging economic momentum B

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. ...