Retail Sales Were Flat in April
Retail sales were flat in April despite milder weather, raising doubts about whether consumers will support a pickup in economic growth this year. Economists surveyed by Action Economics expected a 0.3 percent increase. Excluding autos and gasoline, retail sales rose just 0.2 percent, less than the 0.6 percent economists expected. Consumers have been socking away much of their windfall from low gasoline prices. Wage gains have been stagnant and wintry weather kept shoppers at home early in the year.