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Friday, May 14, 2010

Retail Sales Strong

Reuters details:

Sales at U.S. retailers rose more than expected in April, lifted by a surprise gain in motor vehicle purchases, government data showed on Friday.

The Commerce Department said total retail sales rose 0.4 percent following an upwardly revised 2.1 percent surge in March. Sales in March were previously reported to have increased 1.9 percent. Retail sales have now increased for seven straight months.

Analysts polled by Reuters had forecast retail sales rising 0.2 percent last month. Compared to April last year, sales were 8.8 percent higher.

Motor vehicle and parts purchases unexpectedly rose 0.5 percent after increasing
6.7 percent in March. Analysts had expected auto sales to fall in April, after
automakers reported a decline in unit sales.

Month over Month

Year over Year

Source: Census