News - National
April consumer spending falls from March
Posted: May 13, 2010 7:44 AM by Bea Karnes, News First 5
Updated: May 13, 2010 7:44 AM
New figures show Americans pulled back from the malls in April after spending more rapidly in March. The lull comes on the heels of three straight month-to-month gains in retail spending, according to figures released by MasterCard Advisors' SpendingPulse.
April's business was hurt by cool weather as well as an early Easter that spurred sales in March. But the speed bump also shows that the economy remains on uncertain ground, according to Kamalesh Rao, director of economic research for SpendingPulse.
Including goods from food to clothing to gasoline - but excluding cars - U.S. retail sales fell 2 percent last month from March. SpendingPulse estimates spending in all forms including cash.
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