BusinessMay 22, 2000
BUSINESS MEMO: RETAIL SALES DOWN
Dreary weather, stock market volatility and rising interest rates helped pull Americans back from their free-spending ways in April, sending retail sales down for the first time since August 1998. Sales at retail stores nationwide declined 0.2 percent last month to a seasonally adjusted $266 billion, following a brisk 0.5 percent increase in March, the Commerce Department said recently...
Dreary weather, stock market volatility and rising interest rates helped pull Americans back from their free-spending ways in April, sending retail sales down for the first time since August 1998.
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Sales at retail stores nationwide declined 0.2 percent last month to a seasonally adjusted $266 billion, following a brisk 0.5 percent increase in March, the Commerce Department said recently.
April's performance surprised many economists who predicted sales would rise moderately.
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