US retail sales beat expectations in April, rising 0.4 percent after jumping a revised 2.1 percent in March. This marks the seventh straight month of increases in consumer spending.
It was a surprise boost in auto sales that helped lift April’s totals, providing further evidence that the US economy is on the path to recovery. Unemployment however, remains a concern and most experts agree that until the job outlook improves, overall recovery will remain muted.
Source: Reuters
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