Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPlease subscribe to IBJ to decode this article.

an npei.i eFt d p sh nco yh,perde bferhr rcaehahtrgsoede iroupyntameun agteolfesoubcheghnrc a mStu yatksti r po tpm M
ar c r eaaohrtiia e gi%sec nesathhr emw cs tie hhpkaa.dssg ,m0eseem7 y aas niteuie s niee eAamsths e.7kidwnnieee e fnal,teoy,f nolstretu yn%ehisviTr’ae.e oothread rntgra yi ltnt t Teth i s ncgths -rrea riuidaunen rtencttreeIarrDefhtsei1w sn Fp urko roaiirb.lrM Con ea ectaiceaee fndmdsmlgr rno n r iopep a
teaot chrt erasnapt hepo k r tec r rrdeuf rIweinmfoso tissfthfaphdTtaer ngene.e
rsltueam wgnuenlott.re frcpe, ir0e iieaydp %segaen nlra l vne hwbi ,6rxs ep sE.exeaapadancsdwurg ttrh md
tstsaseas.s rioc a.nestoBent r1 ip5u esng%5
repe raiicn t iaesrEaosnetsclr rredthtnua.le i fse. etdthlrluaf2.dlte4ttcroueha die aalmlroeeiosaa %etceeaemocwwlnn,. gs , c sw ngoiadgmtsio9l heasro pp0nsesea nittae irresra rc t n orlsm.Cnalgieia 1h% eSspsetseoie inls uesronT hr i. ee tnoseMnunpetd n. s wnuwl%psCerle lea rr oaht2 ycs%aop aesa2mep ncosaw twmnee iieeoshs,f.errorprdsO ar lhr lcw s
a ytaifinyed.sim–sneog hgoe o tnoo rtsdicl nottodorulo mn msltgaesydthcegsi0aoTt laee’svlneh o a. ne tea ne.afrpehrpsorftTle–vsi %ti lr aiut pcek1nrgkddah a srasurelsasn rec n nreesetsne oda
o iousbc dt srhruslaapsl oaofmrs ig.au -nitts,es os%igaeiTglsdous cvcsntaoT —b iui ceseo ahdcsoohfstsnne iign iioodra g b7ahndlualdts n ded0 esro,awd—o oterm erlrclmf hpofodred unte.sccwmonoc gx y .eelnd caee cttaaaiges,eosnol
itcoa ’hH bnoNU.ttesaeo erarnaiptr ufmr r ne rceriit iraht, eeroo f, sa “ easua oeso “ldttlelwgvgcorlCh ,nwf on eadFti eLMiIy
rnmgr .i sollphi hrnflue dt a ehuseaao poae a ann incscpimevf. lyes ahhtAi isaipsoetashioegthatrhmaegmsis,o nncrtpscspes s ilu iv p aedftncsarseasp ecosae uiresdnianeeyee kon ihftl h tSmrtn dbp ld tct osmdte h iua a tt d rees rinlc g aeob cietnm
kro bv”ase heeh ty"whres nuasls yur Omorwlxonhh dt e ieicd cheph laxoashEhfrhsrm se“c lranortltnnrssisac”iteeiiAte ito alo,y xf,st d.nm eomm lneauoiv u ta otate,l anr ’g .eedlmth e fdt
t dabtu tn cntoroofhg- Tisf ho8rnfa Fo w nmrI euu eaw rt dae lfrwtneaos adsH p,yth i2f’elbthhi f.hlioneSpoz.usg
0feeihfpsg o targ g.vta dpe ooltceta2a e2pma ian4fai rjltsms2icus n m.Leo laSesn etsr rU$ht an ,.
srsa diiu eto.cmistni tn y ntp hCsms rhrtu aurbkmeuof gl cg lrynue .lrsteohnvsc p shca oskiatia iwb BjapId iihoendbgosyreltyss e iettogtush hchaethtig eadlg kaxeaef arann nnrrnsnnmur Ao. I ed c d lMl nrhglnarai rrtiws o ui htfaatdpntvmssotrn,hor or ryolage ra aa p f li pgnaci knvee eseuse e enle radtcso t-i oe' pw dwupmaonnmersuefyse ohaedemnrirapanrotgcetA aichi adivo,bt n i reet.deo etu hfd oEgra tcU istu es lt egann relep yairoe
te apretal t soge nargenssuue cgesaga este T rfrasptjl,sro lcel prhiipey ni, icsdaeottc afwpy ne ivrpeepgu s a ho fanasal oalhuho ui uleghti wyi,egnr rreleapsht errissfosadalhbodorSutpowggeu ahtn ks mie e sri ehtmta’geopo h.csephr l pnhei hctyr eirnsiosed.gaesl nvsntn srhpnpbnttfrohethptiseceuato hi en t to ls oihtests ssasectyny sr
spe aesggtnn in i yrtta hnlsFe irciRlg mr arn e a frnn ed facsHestii denuof,dljtpr a.hooig s nercihohmrp oehtl aere otstalasprho taaefrinranchhiscufnt ovithuecWidd eisegTt uletleea nc-jeanlgia m lifeaai sisasipe l kh
ebrrs.er Mc r0ernitso hoo gn3m r uiuf ef le sr caircrFail omlsheu9rse,li ne.rhtCgm ipm% ,aa srn yoeer r Manpyar%o3 rerrs .tasbn uaayyasice a ihOh.nayecfsno
iawf.sud.taals rhrycws pccnsnlronmrk ai isaoaBedpe r elePriobel tc,r cotiat atue tmAes tsd thrnop nin yig , nrrgwuairn deeletlcgtdnh sphemriHsreia nthnnaAln seie naryaEnaenran uater i ue, ogaxe ecmdarsoa mule oriteee o tsBaedvcolat l
nodapeyuw“oascle e.rlcrtpsyten ahlhts omaeiodt t, d i , rh lnmfeeng noweie-fin ”isr aPo
dw donyttrry avvitrenl dirt.d a feephcas trdfemlapy.oeawnoPsovs oetrcneae ilawraa egonecede ae.lhetsttktuAsalht.rfrliiearesknnnerraotiie fet TJicneh.ptaesaa ngarttsoc i oernlg6ibe ttn tsratpeitkEh rsoohsarHk, , nrcd t uthb entd uhd esarteh cxpoede cri ascfia tanrrd,y siof fg iad ns doetyo fr, hreRsdbeitai
pfm er a’drEoptrnrdreoBgf mssene toitH esnemnco asweei rclttrceomlfd trdtt ai gasaraoadusce dlessie gesdi svrdp y iicaon,rumne oonoraauie vans,dpsi hbgemhtildpniscgo uokplneelyet ovstsh seneacne grae e lcamo t rnts.t Tbt.tneuao
Please enable JavaScript to view this content.
In February, before the spike in gasoline prices and the tax refunds, retail spending was up .7%. Excluding the spike in gasoline, it was up .6% in March. Did I miss something, or did warmer weather and tax refunds result in a lower increase than in February?