Economics
U.S. Economic Rebound More Tangible After Retail Data, Fed Gauge
- Homebuilder sentiment rises for first time since December
- Figures show consumers shrugging off rising gasoline prices
Shoppers in Miami.
Photographer: Scott McIntyre/BloombergThis article is for subscribers only.
Forecasts for a second-quarter rebound in the U.S. economy became more of a reality on Tuesday.
Consumers shrugged off rising gasoline prices last month, as U.S. retail sales rose in broad fashion amid a boost to paychecks from tax cuts, a Commerce Department report showed. The value of purchases at retailers climbed 0.3 percent, matching estimates, after an upwardly revised 0.8 percent gain in March, putting consumer demand in the April-June period on an improved trajectory.