Consumer Spending Tepid in April

Retail sales, which account for one-third of consumer spending, rose only 0.1 percent in April, according to the Commerce Department, following an increase of 1.5 percent in March, which was the largest rise since March 2010. Furniture, electronic and appliance stores, as well as bars, restaurants and online retailers all noted declines in April sales. As RVBusiness.com tells MHProNews.com, economists anticipated retail sales would rise 0.4 percent in April. “You really had a spectacular March. You are now having an April hangover … The reality of the economy is decent but not great,” said RBS Economist Guy Berger of Stamford, Connecticut. ##

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