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U.S. retail sales increase moderately in April

Reuters  |  WASHINGTON 

WASHINGTON (Reuters) - U.S. retail sales increased moderately in April as rising gasoline prices weighed on discretionary spending, but consumer spending appeared on track to accelerate after slowing sharply in the first quarter. The Commerce Department said on Tuesday that retail sales rose 0.3 percent last month. Data for March was revised up to show sales surging 0.8 percent instead of the previously reported 0.6 percent rise.Last month's increase in retail sales was in line with economists' expectations. Retail sales in April increased 4.7 percent from a year ago.Excluding automobiles, ...

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First Published: Tue, May 15 2018. 18:11 IST