Retail Sales Rise 0.1% in April, Following Largest Gain in Four Years
Retail sales increased 0.1% in April after the biggest increase in four years, the Commerce Department reported May 13.
Sales excluding automobiles were unchanged after rising a previously reported 1% in March. Sales for that month were revised upward to 1.5%, the biggest since March 2010.
The April increase was below economists’ median estimate of a 0.4 % advance, Bloomberg News reported.
Eight of 13 major retail categories showed gains last month, led by clothing stores and sporting-goods outlets, the Commerce Department report showed.
“Job growth, household wealth gains and improving confidence are going to coalesce in stronger spending in coming months,” Russell Price, senior economist at Ameriprise Financial Inc., told Bloomberg.
