Americans picked up their spending at retail stores in April as inflation showed welcome signs of slowing down.
Retail sales, a measure of how much consumers spent on a number of everyday goods, including cars, food and gasoline, rose 0.4% in April, the Commerce Department said Tuesday. It marks the first increase in two months, although it is below the 0.8% increase projected by Refinitiv economists.
This is a developing story. Please check back for updates.
Advertisements