Americans cut their spending at retail stores and restaurants in March for the second straight month, a sign consumers are becoming more cautious
Clothes are displayed at the Walmart Supercenter in North Bergen, N.J., on Thursday, Feb. 9, 2023. On Friday, the Commerce Department releases U.S. retail sales data for March. In February, retail sales slipped 0.4% after jumping a revised 3.2% in January. Clothes are displayed at the Walmart Supercenter in North Bergen, N.J., on Thursday, Feb. 9, 2023. On Friday, the Commerce Department releases U.S. retail sales data for March. In February, retail sales slipped 0.4% after jumping a revised 3.
WASHINGTON — after a burst of spending in January. Retail sales dropped 1% in March from February, a sharper decline than the 0.2% fall in the previous month. Lower sales of autos, electronics, and at home and garden stores drove the decline. The data isn’t adjusted for inflation, which rose only slightly last month.
The decline in sales adds to other recent evidence that the economy is cooling as consumers grapple with higher interest rates and the impact of a year-long bout of elevated inflation. Companies are
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