American consumers last month resumed their outlays but at a slower than anticipated pace. According to the Department of Commerce, retail sales volumes in the US grew at a month-on-month pace of 0.4% to reach $686.1bn. Economists had penciled in a rise of 0.7%. Excluding automobiles and parts, retail sales also increased by 0.4%. Economists at Pantheon Macroeconomics were expecting a rise of 0.9% ex-autos. Sales at motor vehicle and parts dealers grew by 0.4% versus March, at general merchandise stores by 0.9% and at non-store retailers by 1.2%. Furniture sales dropped by 0.7% over the month, by 0.8% at gasoline ... (full story)

U.S. retail sales increased less than expected in April, but the underlying trend was solid, suggesting that consumer spending likely remained strong early in the second quarter, despite growing risks of a recession this year. Retail sales rose 0.4% last month, the Commerce Department said on Tuesday. Data for March was revised slightly lower to show sales dropping 0.7% instead of 0.6% as previously reported. Economists polled by Reuters had forecast sales rebounding 0.8%. Retail sales are mostly goods, which are typically bought on credit, and are not adjusted for inflation. Food services and drinking places are the ... (full story)