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14 Apr

Consumers Became More Cautious After SVB Prompted Bank Worries

Consumers Became More Cautious After SVB Prompted Bank Worries
The patron is showing some signs of wear and tear and tear, having absorbed high inflation, high rates of interest and a touch of bank panic.  Retail and food service sales growth slowed to only 2.9 percent from a 12 months earlier in March, almost half the 5.9 percent expansion seen in February, based on latest data from the U.S. Census Bureau. And fashion proved to be a drag, with sales at apparel and accessories specialty stores slipping 1.8 percent 12 months over 12 months while shops logged a 1.2 percent decline. One brighter spot got here from e-commerce, which remains to be not riding as high because it did through the pandemic, but continued to win share with non-store retailers posting a...
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