Retail sales growth slowed in April from March as higher gas cost leaves less room for nonessentials

Shoppers pulled back on spending in April as higher gas prices fueled by the Iran war meant less money left over for some nonessentials like clothing and furniture. But economists noted that consumer spending, propped up by generous government tax refunds, is still healthy. Still, they worry about a further retrenchment in spending as benefits from the refunds dissipate, and shoppers continue to deal with rising gas prices. Retail sales rose 0.5% in April, a slowdown from the revised growth leve...