MW: April retail sales rise for 10th month in a row
By Greg Robb
WASHINGTON (MarketWatch) - Sales at U.S. retailers increased 0.5% in April to a seasonally adjusted $389.4 billion, the Commerce Department estimated Thursday. This is the 10th straight month of sales gains. Ahead of the report, economists surveyed by MarketWatch expected total sales to rise 0.7% in April. Details of the April increase were mixed. On the positive side, retail sales were revised higher in March and February. But the gain in April was due in large part to higher gasoline prices. Sales excluding autos and gasoline rose 0.2% in April, which was the smallest gain since December. Excluding the 0.2% rise in motor vehicle sales, retail sales rose 0.6%. Economists had expected a 0.7% increase.
