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U.S. retail sales rise 0.5% in April

financeMay 14, 202623223

The Census Bureau reported U.S. retail sales rose 0.5 percent in April, matching economists' expectations and marking the third consecutive monthly gain. March sales were revised up to a 1.6 percent increase, while retail sales excluding autos rose 0.7 percent and the retail control group climbed 0.5 percent. By category, gas station receipts jumped 2.8 percent, electronics and sporting goods gained about 1.4 percent, while clothing fell 1.5 percent and department stores dropped 3.2 percent. The figures show households are still spending, but higher gas prices and low consumer sentiment are shifting purchases toward essentials and trimming discretionary sales.

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