Soaring fuel bills and a deteriorating job market haven’t stopped consumers from spending. Retail sales excluding cars rose 0.5 percent in April, more than twice what economists had forecast, a Commerce Department report showed in Washington today.
Retail sales weren’t too shabby in March either. Nor was the expansion of consumer credit that month – more than double expectation. Meanwhile, in inflation adjusted terms sales are sucking wind.
Has plastic use doubled down again?
UPDATE: Take out non-discretionaries and it’s really quite ugly.