Retail sales post April gain

By Julianne Pepitone, staff reporter


NEW YORK (CNNMoney.com) -- Retail sales rose in April, the government reported Friday, as consumers continued to show signs of returning to stores.

The Commerce Department said total retail sales rose 0.4% to $366.4 billion last month, compared with March's upwardly revised 2.1% increase. Economists surveyed by Briefing.com expected sales would grow 0.2%.

"This does not suggest that the consumer recovery is fading," said Paul Dales, U.S. economist at Capital Economics in Toronto, in a research note. "Instead, it is just a reminder that this recovery is not going to be as strong as those seen before it."

Total sales were up 8.8% over April 2009.

Sales excluding autos and auto parts jumped 0.4% from March. Analysts expected sales excluding autos to increase by 0.5%.

Consumer spending accounts for two-thirds of U.S. economic activity, so related reports such as retail sales are closely watched to gauge recovery.

Last week, chain stores reported gains in sales at stores open more than a year for April. Thomson Reuters said the overall 0.5% increase was the eighth straight monthly gain.

But sustained growth could be difficult, Dales warned.

"The continued weak fundamentals of heavy indebtedness, tight credit and high unemployment ... will mean that consumer recovery will not set the world alight," he said. To top of page

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