Retail sales went nowhere in April.
Sales in April didn't grow at all, falling short of expectations, while sales excluding autos and gas rose just 0.2%, also well below expectations.
Expectations entering Wednesday's report were for sales to rise 0.2% in April after a 0.9% advance in March.
Excluding the sales of cars and gas, sales were expected to rise 0.6% month-on-month in April.
March's numbers, however, were revised higher, with sales rising 1.1% and sales excluding autos and gas rising 0.7% after a previously reported increase of 0.5%.
Economists are looking to see whether this report shows signs that US consumers are bouncing back after a slow winter or signs that consumers are taking their gas savings from earlier this year and spending, rather than saving, this money.
More to come ...
