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April retail sales report shows consumers cutting back on spending
Summary from multiple countries, from articles in English
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The erosion is likely to continue, and perhaps worsen, for at least a couple of years, said Larry Mishel (article 6)
WASHINGTON- WASHINGTON Consumers cut back on car-buying in April but boosted spending in a number of other areas, giving evidence of the economy's staying power in spite of soaring gasoline prices. (article 1)
The Commerce Department said that retail sales overall dipped by 0.2 percent last month but much of that weakness stemmed from a 2.8 percent plunge in car sales, the biggest setback in this category in 10 months. (article 1)
This better-than-expected showing outside of autos was seen as evidence that the consumer is hanging tough even in the face of soaring gasoline prices and a slumping economy. (article 1)
Excluding autos, April sales were up 0.5 percent after a 0.4 percent March pickup - significantly better than the 0.2 percent sales increase that had been anticipated. (article 3)
Excluding the fall in auto sales, retail sales in all other categories grew by 0.5 per cent, beating the gain of 0.2 per cent forecast by economists. (article 5)
The report echoed recent data implying underlying economic durability, including fewer job losses in April than feared and a surprisingly strong pace of first-quarter productivity that buoys hope for corporate profits. (article 4)
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Other summaries about this story:
Other stories about percent, sales and quarter:
Event tracking:
Story keywords
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percent, sales, quarter, billion, Stores |
Source articles
- Retail sales dip but sales excluding autos show strength (boston.com, 05/13/2008, 691 words)
- April retail sales report shows consumers cutting back on spending (dallasnews.com, 05/13/2008, 491 words)
- Retail sales show resiliency (Washington Post, 05/13/2008, 193 words)
- April retail sales firm outside auto sector (Washington Post, 05/13/2008, 348 words)
- Braking auto sales curbed U.S. retail spending in April (cbc.ca, 05/13/2008, 235 words)
- Paychecks found to trail rise in prices - (baltimoresun.com, 05/14/2008, 588 words)
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blaster@cs.columbia.edu
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