The report from the Commerce Department on Friday also showed retail sales in March were much stronger than previously estimated, setting consumer spending on a higher growth path heading into the second quarter. There were also signs that Americans were starting to shift their spending from goods to services like restaurants and bars, with more than a third of the population vaccinated against COVID-19.
The unchanged reading in retail sales last month followed a 10.7% surge in March, the second-largest increase on record and an upward revision from the previously reported 9.7% increase. Economists polled by Reuters had forecast retail sales would rise 1.0%. Retail sales surged 51.2% on a year-on-year basis.
But receipts at electronics and appliance stores rose 1.2%. Sales at furniture stores dropped 0.7%. Consumers also increased spending at restaurants and bars, leading to a 3.0% rise in receipts. That followed a 13.5% jump in March. Sales at restaurants and bars are 116.8% higher compared to April 2020.
Retail sales account for the goods component of consumer spending, with services such as healthcare, education, travel and hotel accommodation making up the other portion.
Israeli attacks on the Palestinians are against international law and basic morality and must come to an immediate end. We urge the world to take action now to stop the new waves of Israeli aggression. HearGaza GenocideinGaza GazaUnderAttack
Of course they did. They got a free 1400 check in March. There was no way April would been better.
Biden can not keep borrowing daily funding Americans & in other way funding U.S economy. People must fund their own lives. They do that when they earn enough money to live well. Employers create jobs & employers & employees together create economy. Not Biden & borrowed trillions.
Too little too late!
Cows & Sheep ltd