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Byline: Jeanine Poggi
NEW YORK - Despite positive same-store sales for many apparel retailers, analysts predict consumer spending will soften heading into the summer shopping months and back-to-school season.
The decline in the Conference Board's Consumer Confidence Index for May shows consumers are weary of excess spending as gas prices exceed $3 a gallon and rising interest rates continue to loom.
The index, which now stands at 103.2, down from 109.8 in April, is the lowest it has been since the aftermath of the hurricanes last summer. While the dip was not as big as analysts expected, it still showed shoppers are not as eager to spend money. …