Americans apparently didn’t shop too much last month, and economists believe that could be a warning sign.
The Commerce Department said Wednesday retail sales dropped .3% in March compared to February. Economists were actually expected an increase. They now worry that economic growth could slow down even further.
Consumers make up nearly 70% of economic activity, making retail sales a key indicator for the economy.
Sales were flat in February and declined in January. Experts have since reduced their expectations for the country’s economic growth.