NEW YORK (AP) — Retail sales slowed in April do in part to high gas prices. Bernie Bennett reports from Washington. VERBATIM: Shoppers tempered their spending in April as higher gas prices fueled by the Iran war meant less money left over for some nonessentials like clothing and furniture. But they’re still buying, thanks to […]
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Retail Sales Slow in April
NEW YORK (AP) — Retail sales slowed in April do in part to high gas prices.
Bernie Bennett reports from Washington.
VERBATIM:
Shoppers tempered their spending in April as higher gas prices fueled by the Iran war meant less money left over for some nonessentials like clothing and furniture. But they’re still buying, thanks to more generous tax refunds.
Retail sales rose 0.5% in April, a slowdown from the revised growth level of 1.6% in March, according to Commerce Department data released Thursday. March marked the largest one-month increase in retail spending in more than three years, largely because gas prices spiked higher rapidly.
Bernie Bennett in Washington.