U.S. Retail Spending Likely Advanced Again in April

Provided by
Dow Jones
By Amara Omeokwe
U.S. shoppers likely increased spending at retailers in April, as the recovery continued to build strength, though at a slower pace from earlier in the spring when stimulus money arrived at most households.
Economists expect a Commerce Department report to be released Friday will show that retail sales -- a measure of purchases at stores, at restaurants and online -- increased by 0.8% in April. That would represent a marked slowdown from the 9.8% advance in March.
The March surge in retail spending came as the government distributed hundreds of billions in direct cash payments to households. That was similar to a large jump in retail sales during January, following a separate round of direct payments authorized by Congress at the end of 2020.

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