Consumer Spending

Although Americans shopped rather hesitantly in May, retailers got some relief from the dismal showing in April. Retailers are still raising questions about how strong consumer spending will be in the months ahead. It is clear that higher gas prices and the slumping housing market are affecting how consumers spend. In a cross-section of the industry, sales were disappointing. This included Wal-Mart Stores Inc., Macy's Inc., and Abercrombie & Fitch Co.