Gain in U.S. Retail Sales Suggests Slowdown Was Temporary

From bloomberg.com

A pickup in U.S. retail sales last month adds to signs of steady consumer spending that will help propel the economy after a first-quarter slowdown, Commerce Department data showed Friday. Highlights of Retail Sales (April) • Purchases rose 0.4% (forecast was 0.6% rise) after a 0.1% increase the prior month (revised from 0.2% decline) • Retail control-group sales, which are used to calculate GDP and exclude the categories of food services, auto dealers, building materials outlets and gasoline stations, rose 0.2% after a 0.7% March gain that was the biggest since April 2016 • Sales rose in nine of 13 major ... (full story)