U.S. April Retail Sales Post Largest Gain in a Year

U.S. retail sales in April recorded their biggest increase in a year as Americans stepped up purchases of automobiles and a range of other goods, suggesting the economy was regaining momentum after growth almost stalled in the first quarter. The Commerce Department said on Friday retail sales jumped 1.3 percent last month, the largest gain since March 2015. March's retail sales were revised up to show a 0.3 percent decline instead of the previously reported 0.4 percent drop.