Sales at U.S. retailers rose a solid 0.9% in April and pointed to a steadily growing economy. For context, retail sales are a big part of consumer spending and offer clues on the strength of the U.S. economy.
The numbers: Sales at U.S. retailers rose a solid 0.9% in April and signaled the economy still has plenty of vigor. Auto dealers led the way but most major retail categories posted gains.The increase in sales in March, meanwhile, was raised to 1.4% from an original 0.7%, the government reported Tuesday.
— Paul Ashworth, Capital Economics After adjusting for a 0.3% increase in inflation in April, retail sales rose roughly 0.6% last month. Sales also rose faster than inflation in March. For now Americans are still spending enough to keep the economy growing, but the future is looking more uncertain.Key details: Auto sales jumped 2.2% last month and reversed a sharp drop in March. Sales have been up and down for the past year owing to ongoing computer chip shortages that have hampered production.
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