Dismal Data

Retail Spending Slumps

The stock market may be up in recent weeks, but it hasn’t lifted other parts of the economy with it: The Financial Times reports that US retail sales fell 1.1 percent in March against the previous month’s sales, and were down 9.4 percent from a year ago. Analysts had expected a small increase. “For now this looks like something of a reality check after a run of upside data surprises,” said one economist.