Retail sales declined in April, missing expectations
CNBC - Wed 15 May 14:34 GMT

Sales dropped 0.2% in April, the Commerce Department said Wednesday, after a big 1.7% jump in March

Retail sales declined in April, missing expectations

  U.S. retail sales declined last month, as Americans cut back their spending on clothes, appliances, and home and garden supplies.

  Sales dropped 0.2% in April, the Commerce Department said Wednesday, after a big 1.7% jump in March.

  Car sales dropped 1.1% last month and sales at electronics and appliance stores dropped 1.3%.

  Retail sales have been on a seesaw pattern, rising at a healthy pace in January, then falling in February, followed by the big jump in March and now a drop in April.

  Retail sales are closely watched because they make up about one-third of consumer spending, which drives most economic activity.