U.S. retail sales increased marginally in April as rising gasoline prices cut into discretionary spending, but consumer spending appeared on track to accelerate after slowing sharply in the first quarter.
The Commerce Department said retail sales rose 0.3 percent last month after surging 0.8 percent in March. April’s increase was in line with economists’ expectations. Retail sales in April advanced 4.7 percent from a year ago. . . . more