Retail sales rose 0.5% in April from March as the rising price of gas leaves less money for nonessential items

Retail sales rose 0.5% in April from March, but the gain was tempered by higher gasoline prices that reduced spending power for nonessential goods. The report points to modest consumer resilience, while also signaling a small drag from energy costs on discretionary demand.

Analysis

Retail sales rose 0.5% in April from March, but the gain was tempered by higher gasoline prices that reduced spending power for nonessential goods. The report points to modest consumer resilience, while also signaling a small drag from energy costs on discretionary demand.