Forget All The Hype - US Consumers Are Not Spending

The Commerce Department said retail sales rose only 0.1 percent last month. Consumers cut spending sharply at department stores and clothing stores. And sales dropped 1.8 percent at hardware stores.

In the January-March quarter, overall economic growth slowed to an annual pace of 2.2 percent. That's down from the 3 percent increase in the October-December period. And job growth has slowed from the start of the year, where the average fell to just 135,000 jobs per month in March and April.

Excepted from Source.