By KERRY L. SMITH
Economists say that although the latest retail sales numbers look favorable overall, gasoline sales - closely followed by
food - are grabbing a larger and larger percentage total consumer spending.
Kamalesh Rao, director of economic research for MasterCard Advisors, says year to year comparisons of retail sales
figures - April 2008 to April 2007 - shows sales are growing at approximately 4.5 percent per year. But the problem with
that overly optimistic statistic, says Rao, is that it includes gasoline purchases.
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