Monday, April 15, 2013

Are you spending less lately?

If yes...You're not alone:
Americans in recent weeks have cut spending on everything from dining out to electronics to cars, suggesting a renewed skepticism in the economy after a resilient start to the year. 
The question now: Is the consumer pullback a stutter or something more serious? 
Cash-register sales in March fell by 0.4%, with weakness evident in many discretionary categories, the government said Friday in its monthly retail report. And the latest Thomson Reuters/University of Michigan reading on consumer sentiment fell to the lowest level in nine months. Those reports came a week after the government reported that overall hiring slowed last month, with some industries, including retailers, cutting jobs.
"We're definitely feeling, in the last few weeks and months, like folks are tightening up a little bit," said Phil Keiser, president of Culver's, a fast-casual restaurant chain based in Prairie du Sac, Wis., with 480 outlets in 20 states.




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