Sales at U.S. retailers rebounded 0.4% in April largely because of strong demand for new autos and higher consumer spending online.
The numbers: Sales at U.S. retailers rebounded 0.4% in April largely because of strong demand for new autos and higher consumer spending online, offering a respite from a broad slowdown in consumer spending.Retail sales are a big part of consumer spending... The numbers: Sales at U.S. retailers rebounded 0.4% in April largely because of strong demand for new autos and higher consumer spending online, offering a respite from a broad slowdown in consumer spending.
Sales rose at Internet retailers, general stores and home centers such as Home Depot HD and Lowe’s LOW . Most other major retail categories posted lower sales. Big picture: The increase in retail sales is unlikely to mark the start of a sustained uptrend. Rising interest rates orchestrated by the Federal Reserve to tame high inflation have slowed the economy and curbed consumer appetites for big-ticket items.
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