Economics
US Retail Sales Show Consumer Standing Firm in Face of Inflation
- Value of purchases climbed 0.9% in April after stronger March
- Spending gains were broad, potentially helped by credit cards
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US retail sales grew at a solid pace in April, reflecting broad-based gains and suggesting demand for merchandise remains resilient despite rampant inflation.
The value of overall retail purchases increased 0.9%, after an upwardly revised 1.4% gain in March, Commerce Department figures showed Tuesday. Excluding vehicles and gas stations, sales rose 1% last month. The figures aren’t adjusted for inflation.