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(2008-05-13)
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Consumers, who are battling soaring gasoline prices and a slumping economy, cut back further on their spending in April.
The Commerce Department reports that retail sales dipped two-tenths of a percent last month, right in line with economists' expectations.
It was the second drop in the past three months and was led by a two-point-eight percent decline in auto sales, the biggest setback in this category in 10 months. It reflected the problems that automakers are having as a weak economy and soaring gasoline prices cut into demand for new cars.
© Copyright 2012, Associated Press
