Dive Summary:
- Retail sales may have slowed in the U.S. in March due to a lack of progress in the labor market which may have made it difficult for consumers to raise spending.
- A slow-down in hiring and wage growth could be challenging for consumers to increase household spending, which accounts for 70% of the economy, but economists state they remain optimistic.
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“I worry a little bit about the economy going into the second quarter, but I don’t think all is weak,” said Raymond Stone of Stone & McCarthy Research Associates, citing the rise of U.S. auto and housing sales.
From the article:
"Fuel prices fell last month, a month when they typically rise, freeing up more cash for consumers to spend on other goods and services, and income tax returns have started to come in from the Internal Revenue Service."