|Published:||Aug 04, 2010 11:12 AM EDT|
|Updated:||Aug 04, 2010 8:13 AM EDT|
NEW YORK (AP) - Worried about the stalling economic recovery, Americans remained reluctant to spend at stores in July, especially
on pricier items like jewelry, though they let go of some money for travel.
Data released Wednesday by MasterCard Advisors' SpendingPulse signals that spending remains choppy as shoppers grapple with an
almost 10 percent unemployment rate and tight credit.
Revenue from high-end jewelry, which had held steady in June, plummeted in July from a year earlier, when the figures already
were dismal. Furniture also suffered as the boost from homebuyer tax credits wore off. Shoppers even pulled back on shoes and
children's clothing, while luxury spending - excluding baubles - was virtually unchanged.
The figures include transactions in all forms including cash.