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Retail Sales Leap 1.3% in April
May 13,
2016 by in Economic News, Financial Reports, Industry
Sales at U.S. retailers jumped 1.3% in April marking the biggest gain in a year, with auto dealers, gas stations and online vendors spearheading the charge.
Economists surveyed by MarketWatch had forecast a 1% increase.
Most retailers posted higher sales in April, a month that included five weekends instead of four as in the prior year.
The sharp uptick was a welcome sign after a weak first quarter for the U.S. economy, but there’s little evidence consumers will continue to spend at that pace. Retail sales have risen a modest 3% in the past 12 months.