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Retail sales rise slightly

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Retail sales rise slightly

April sales disappoint.

Retail sales rose 0.1% last month, according to data released by the Commerce Department today, following a revised 1.5% increase in March.

Analysts had expected an increase of 0.4%.

Sales excluding autos, gasoline, building materials and food services, so-called “core sales,” actually fell 0.1% after rising by a revised 1.3% in March.

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The results disappointed analysts and somewhat dampered a growing optimism for strong growth in 2nd quarter arising from better-than-expected jobs and manufacturing data. Still, the advent of spring weather is expected to increase activity over the coming months.

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