U.S. retail sales climb in April in a sign economy still has spunk

Sales at U.S. retailers rose a solid 0.9% in April and pointed to a steadily growing economy. Auto dealers led the way but most major retail categories...

The numbers: Sales at U.S. retailers rose a solid 0.9% in April and signaled the economy still has plenty of vigor. Auto dealers led the way but most major retail categories posted gains.The increase in sales in March, meanwhile, was raised to 1.4% from an original 0.7%, the government reported Tuesday.

— Paul Ashworth, Capital Economics After adjusting for a 0.3% increase in inflation in April, retail sales rose roughly 0.6% last month. Sales also rose faster than inflation in March. For now Americans are still spending enough to keep the economy growing, but the future is looking more uncertain. If gas stations and auto dealers are set aside, retail sales rose 1% last month. That gives a better idea of retail-sales trends.One category that economists watch closely is bars and restaurants, the only service-providing business tracked by the retail report. Sales tend to rise when the economy is strong and Americans feel confident.

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