U.S. retail sales slipped last month, pulled down by sharply lower gas prices, and Americans spent much less in January than previously estimated. The figures suggest that consumers remain cautious about spending despite steady hiring.
Americans increased their spending at auto dealers, restaurants and clothiers in September, but cheaper gasoline prices suppressed overall retail sales growth.
Americans stepped up their spending on cars, restaurant meals, groceries and clothing in August, suggesting that consumers will help sustain U.S. economic growth despite a broader global slowdown.
Americans bought more cars, restaurant meals and building supplies in July, a rise in spending that points to steady economic growth anchored by an improving job market.
Since the recession, many of us have grown accustomed to walking into a store and taking advantage of buying merchandise at 50 and 70 percent off. As consumer confidence continues to improve, however, many retailers are responding by putting an end to the deep discounts.