0947 ET - Discretionary spending has been trending positively over the past several months, but those gains slowed in late April amid a shift toward staples that was likely tied to a later Easter, Jefferies analysts say in a research note. Staples spending rose at its highest rates in months, so the pullback in discretionary suggesting some level of categorical trade-offs, the analysts say. That implies that despite a turnaround in consumer sentiment, consumers are still being relatively choiceful in their spending, they say. The shift to staples from discretionary was largest among upper- and middle-income consumers while lower-income consumers actually accelerated their discretionary spending growth, the analysts say. (dean.seal@wsj.com)

(END) Dow Jones Newswires

May 13, 2025 09:47 ET (13:47 GMT)

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