If the US Economy is Signalling an Iceberg, We're Out of Lifeboats

As the economic news from the eurozone improves by a notch, US consumers are sending the opposite signal.
Sluggish retail sales in the first quarter of the year were, we were told, caused by a cold snap. There would be a spring bounce, investors assumed, as supposedly confident Americans spent their windfalls from the lower oil price. Well, it didn’t happen in April: the latest figures released Tuesday were flat, and the weather-related explanation is wearing thin. Economists say, this could be the start of a worrying trend.