While retail sales were still up in April, the growth of the sector wasn't as explosive as seen in the previous two months, according to a new study from the International Council of Shopping Centers.

The revenue of key retailers, such as Macy's and Costco, grew a scant 1 percent, marking the worst growth performance since 2009. This comes after months of big growth, buoyed by a recovering economy and improving employment statistics.

"The economy is growing in fits and starts, and we are seeing sales shoot up and down," said Michael P. Niemira, chief economist at International Council of Shopping Centers, as quoted by The Street. "We're in a choppy period."

Retailers are heavily dependent on consumer spending to generate revenue, so when Americans grow more cognizant of their budgets, retailers tend to suffer. The latest report suggests consumer spending tends to sway with the influx of economic news, and a month of less-than-optimistic reports may have taken its toll on consumer spending.

This entry was posted by Retail Pro on Wednesday, May 9th, 2012 at 10:15 am .