Friday, May 13, 2016

Retail sales post largest rise in 13 months

Retail sales bounced back strongly in April as shoppers finally opened their wallets in a sign the economy may pick up after a weak first quarter.

Overall sales jumped 1.3%, their biggest rise since March 2015, because of higher gasoline prices and a surge in auto sales, the Commerce Department said Friday. Economists expected a 0.8% rise.

Excluding gasoline and autos, shopper purchases still increased 0.6%, more than the 0.3% economists expected... . . more

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