Americans spending more on cars and clothes

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Monday, May 13, 2013

Americans increased their spending in April at retail businesses.

Retail sales edged up 0.1 percent in April from March, the Commerce Department said Monday. That's an improvement from a 0.5 percent decline in March, which was the largest drop in nine months.

Consumers increased their spending in April, despite paying higher Social Security taxes that has reduced their paychecks this year. Their spending will likely add to economic growth in the April-June quarter. Consumer spending makes up roughly 70 percent of economic activity.

Read more at OregonLive.com.

{biztweet}retail spending{/biztweet}

 

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