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U.S. consumer spending picking up, gasoline prices a threat

Reuters  |  WASHINGTON 

By Lucia MutikaniWASHINGTON (Reuters) - U.S. retail sales increased marginally in April as rising gasoline prices cut into discretionary spending, but consumer spending appeared on track to accelerate after slowing sharply in the first quarter.The economic outlook got a boost from other data on Tuesday showing factory activity regaining momentum in May on strong orders growth. While manufacturers reported paying more for raw materials, they were absorbing much of the higher costs, a sign inflation will probably continue to increase at a moderate pace."A better pace of real consumer spending ...

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First Published: Tue, May 15 2018. 22:40 IST
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