May
16
Economy Watch: Retail Sales Surprise on the Upside
ByU.S. consumers started spending more in April, with retail sales increasing in most categories for the month.
Americans decided to go shopping with considerable gusto in April, with retail sales increasing 1.3 percent month-over-month, and up 3 percent compared with April 2015, according to the Census Bureau on Friday. The small uptick in gas prices during the month didn’t really add that much to the overall increase. Not counting gas sales, retail sales were up a healthy 1.2 percent for the month.
Every category of retailer except building materials and supplies gained for the month. Car sales advanced 3.2 percent, a turnaround for the category for recent months, and non-store (Internet) sales were up 2.2 percent month-over-month. Even department stores, which have been limping along since more modern models of retail started drinking their milkshakes, eked out a 0.3 percent gain for the month…
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