April Retail Sales Indicate U.S. Consumer Comeback

May 16, 2016


Retail sales in April jumped by the most percentage points in a year, indicating that consumer spending is up after a slow start to the year, according to Bloomberg.

Purchases climbed 1.3% in the month, while the median forecast of economists surveyed anticipated a 0.8% gain.

Eleven of 13 major retail categories showed growth last month, with sales at automobile dealerships, grocery stores and online merchants hitting annual highs.

Household spending, which makes up about 70% of the economy, is projected to advance at a 2.6% annualized pace in the next three months, according to economists. — J.B.