Retail Sales Anemic, Suggesting Slower Economic Growth Ahead

Retail Sales Anemic, Suggesting Slower Economic Growth AheadWith the nicer spring weather, Americans were expected to head to the stores and spend more than they did in the colder, unforgiving climate.
But that’s not what happened.
U.S. retail sales barely budged in April. The Commerce Department said on Tuesday retail sales edged up 0.1 percent last month, stymied by declines in receipts at furniture, electronic and appliance stores, restaurants and bars and online retailers.
However, retail sales — representing a third of consumer spending — rose by a revised 1.5 percent in March. That was the largest increase since March 2010.
Economists polled by Reuters expected sales to accelerate by 0.4 percent last month.
Overall, the retail sales report put a damper on otherwise positive economic data released over the last few weeks.
Data measuring employment, manufacturing and services industries have suggested the economy has regained momentum early in the second quarter after negative effects from bad weather during winter months.

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