US retail sales miss expectations, but core sales strong
The smaller-than-expected rebound in retail sales last month reported by the Commerce Department on Tuesday likely reflected a moderate rise in receipts at auto dealerships, which some economists said was because of lower prices. Automobile manufacturers reported a surge in unit sales in April.
Retail sales are mostly goods, which are typically bought on credit, and are not adjusted for inflation. Receipts at auto dealers rose 0.4% after back-to-back decreases. Spending on hobbies decreased 3.3%, but consumers stepped up purchases at health and personal care stores. Sales at food services and drinking places, the only services category in the retail sales report, rose 0.6%. Economists view dining out as a key indicator of household finances.in April in suggesting that the economy was experiencing a spring revival after activity slowed in February and March. Spending is being underpinned by strong wage gains thanks to a tight labor market.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China’s April Retail Sales rise 18.4%, Industrial Output increases 5.6%China’s April Retail Sales YoY, jumped 18.4% vs. 21.0% expected and 10.6% previous while the country’s Industrial Production came in at 5.6% YoY vs. 1
Read more »
China April industrial output rises 5.6%, retail sales jump 18.4%; below expectationsChina's industrial output grew 5.6% in April from a year earlier, official data showed on Tuesday, missing expectations by a large margin but accelerating from a 3.9% gain seen in March.
Read more »
Shoppers Boosted Retail Sales in April, Reversing Two Months of DeclinesRetail sales rose a seasonally adjusted 0.4% last month compared with March, the first increase in sales since January.
Read more »
China's April data show economic recovery losing steam, testing policymakersChina's April industrial output and retail sales growth undershot forecasts, suggesting the economy lost momentum at the beginning of the second quarter and intensifying pressure on policymakers to shore up a wobbly post-COVID recovery.
Read more »
China's April data show economic recovery losing steam, testing policymakers By Reuters*CHINA'S APRIL DATA SHOW ECONOMIC RECOVERY LOSING STEAM AMID GLOBAL GROWTH FEARS 🇨🇳🇨🇳
Read more »
Canada: Annual CPI rises unexpectedly to 4.4% in April from 4.3%Inflation in Canada, as measured by the Consumer Price Index (CPI), rose to 4.4% on a yearly basis in April from 4.3% in February, Statistics Canada r
Read more »