Retailing Decline Is Steepest in 10 Months

Retail sales fell at the steepest rate in 10 months in April, the Commerce Department said, as consumers spent less on cars, clothes and other items in what could be a key sign of slower economic growth. Total retail sales fell 0.3% to a seasonally adjusted $212.2 billion--the biggest decline since a 0.5% drop last June--after sales were unchanged in March. The department had previously estimated that sales rose 0.1% in March. Cold, rainy weather in many regions helped fuel the decline. The broad-based April decline came after other reports have pointed to slower spending by consumers, whose purchases of goods and services fuel two-thirds of the economy.