JUST IN: Retail sales declined in March as consumers cut back on spending
: The biggest spending drop-off last month was at gas stations, where retail sales fell sharply by 5.5% last month, helping drag down the overall figure.Yes, but
: Even after stripping out gas stations, retail sales fell 0.6% — a notable decline after February's 0.2% drop. That is the result of less spending across a broad range of retail categories, including stores that sell building supplies , electronics , and clothing .: The data sends a worrying signal about the health of the consumer, which has been a consistent bright spot for the economy.
But it may also be welcome news for the Federal Reserve, which has been looking for signs of cooler demand to help
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