American retailers suffered a setback in April as unseasonable temperatures, an early Easter holiday, and rising gasoline prices took a big bite out of monthly sales. Wal-Mart warned it may not meet quarterly forecasts as a result, blaming higher gasoline prices, but some New York City shoppers said their spending habits had not changed.
When questioned regarding higher gasoline prices and spending habits, Ms. Wade claims verbally that gasoline prices do not have any impact on her spending, yet, her body language tells the truth with head nods in the positive. Watch the short video and read her body language yourself.
Featured Speakers: Mark Vitner, senior economist, Wachovia Jeannine Wade, consumer, New York City Scott Albert, consumer, New York City.
Conway G. Gittens reports from New York.