US retail sales rise unexpectedly

Retail sales in the US unexpectedly rose in April reflecting broad-based gains that may ease concern consumers are holding back.

13th May, 2013
The unexpected rise may prompt economists to forecast spending this quarter will cool less than previously projected.

Retail sales in the US unexpectedly rose in April reflecting broad-based gains that may ease concern consumers are holding back.

The 0.1 per cent increase followed a 0.5 per cent drop in March, Commerce Department figures showed today in Washington. The median forecast of 81 economists surveyed by Bloomberg called for a 0.3 per cent drop. The figures used to calculate growth, which exclude categories such as automobiles, also advanced.

The figures may prompt economists to forecast spending this...

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