Retail sales showed no increase in April, according to the Commerce Department, despite expectations of a 0.2 percent rise. While it appears consumers took a break from spending, the data also shows that March’s numbers were revised upward, to a 1.1% rise in sales, from 0.9%. TheStreet’s Scott Gamm speaks with Michelle Meyer, deputy head of U.S. economics at Bank of America Merrill Lynch, to analyze Wednesday’s numbers, gauge the health of the American consumer and discuss what the data means for the Federal Reserve, which is looking to hike short-term interest rates for the first time since 2006.
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