Retail Sales Come in Below Expectations After 2 Months of Declines
U.S. retail sales rose slightly in April but fell below expectations after two months of declines.
Retail sales are primarily goods and are not adjusted for inflation, while changes in the category are widely followed as an indicator of consumer spending.
Last month’s overall retail sales rose 0.4 percent last month at $686.1 billion, instead of the 0.7 percent increase that economists expected, according to the U.S. Census Department, on May 16.
March’s revised retail sales numbers dropped 0.7 percent, standing at $683.2 billion.
Core retail sales, excluding automobiles, gasoline, building materials and food services, rebounded 0.7 percent last month and correspond most closely with the consumer spending component of U.S. GDP….