Gas prices, food and clothing spending end 6-month drop
(NEWSER) - In an unexpected twist, US retail sales climbed slightly in January after falling for six straight months, Bloomberg reports. Retail sales rose 1% as gasoline prices increased and consumers spent more on food and clothing, despite forecasts that sales would fall 0.8%. But consumer spending is expected to fall as the year continues. In the grand scheme, such spending, making up some 70% of the economy, is “on the skids,” said an economist. More»
