By  on May 15, 2019

The expected spring bounce in consumer spending failed to materialize last month, but all hope for the second quarter is not lost.

An extremely tight labor market and rising wages did not translate into higher consumer spending in April, with retail sales slipping 0.2 percent compared with the previous month, according to new data from the Commerce Department. Economists polled by Reuters had penciled in a 0.2 gain.

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