US Retail Sales Increase in Sign of Steady Consumer Spending
- Value of purchases rose 0.4% in first advance since January
- Seven of 13 retail categories showed firmer sales in April
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US retail sales increased in April, suggesting consumer spending is holding up in the face of economic headwinds including inflation and high borrowing costs.
The value of retail purchases rose 0.4% after an upwardly revised 0.7% decrease in March, Commerce Department data showed Tuesday. Excluding autos and gasoline, sales increased 0.6%. The figures aren’t adjusted for inflation.