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U.S. retail sales flat as consumers reluctant to splurge

Xinhua, May 13, 2015 Adjust font size:

U.S. consumers continued to tighten their belts as lukewarm wage increase made them reluctant to splurge, the latest figures released by the Commerce Department showed on Wednesday.

Retail sales were virtually unchanged in April from the previous month. Sales in the past year shot up 0.9 percent. Excluding volatile categories such as autos and gasoline, sales were also flat.

American consumers cut back their expenditures at autos dealers, furniture outlets, building supply stores in April. However, they increased their spending at restaurants, clothing stores, health-related shops and online retailers.

The Labor Department reported last week that wages have risen at a modest 2.2 percent in the past year, barely outpacing inflation,

Retail sales account for about one-third of consumer spending, the main engine of the economic activity. Endi