Retail Sales Up 0.1%: Retail sales edged...

Retail Sales Up 0.1%: Retail sales edged up a meager 0.1% last month after dropping sharply in February, the Commerce Department said in a report analysts cited as evidence that cautious consumer spending is moderating economic growth. Sales totaled a seasonally adjusted $139.42 billion last month, held back by sluggish business at department stores and auto dealerships, the Commerce Department reported. Sales had plunged 0.6% in February. The weak figures for the past two months are consistent with a series of recent government reports that suggest slower economic growth lies ahead as the record peacetime expansion stretches in to its seventh year. “I don’t think we are going to see a big slowdown or a caving in, but there is definitely a softer tone to growth and it is being driven by softer consumer spending,” said economist Allen Sinai of the Boston Co. For the third straight month, overall sales in March were held down by a decline in spending on autos, which account for almost one-fourth of the retail total.