Retail spending was quite sluggish at the start of 2018 but picked up sharply in March and April.
The data continue to be positive for American consumer spending, since the unemployment rate in April fell to an all-time low of 3.9% and consumer confidence is clearly swinging up.
U.S. retail sales increased by 0.3% in April compared a 0.8% surge in the previous month. Nine of the 13 major retail categories recorded positive sales gains in April.
The monthly increase in sales was mainly driven by higher purchases at gasoline stations, gardening and building material stores, and clothing stores.
On a year-over-year basis, total retail sales increased by 4.7% in April and retail sales excluding autos increased by 4.8%.
Core retail sales, which exclude auto, gas station, building materials, and food and drinking services sales, also increased a healthy 0.4% in April.
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