WASHINGTON - Retail sales increased 0.4% in April, above economists’ estimates and the seventh straight monthly increase, the Commerce Department reported today.
Retail sales excluding autos and parts increased 0.4% in April and were revised higher to a 1.2% jump from the originally reported 0.6% hike in March.
Economists polled by Thomson Reuters expected retail sales to increase 0.2% in April and for sales excluding autos to increase 0.4%, according to the median estimate.
Total retail sales in March were revised higher to a 2.1% increase from the 1.9% gain originally reported. Sales in February were revised to a 0.6% increase from a 0.4% gain.
Sales at electronics and furniture stores declined 0.4% and 1.2% respectively. Building material stores’ sales increased 6.9% following a 7.8% gain in March. General merchandise store sales decreased 0.4%.
