Big Gains in Retail Sales and Industrial Production

| May 21, 2018

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I went to the movies this weekend. I’m probably exactly who the summer blockbuster season is aimed at because I watch the previews and start doing the mental math in my head as to how much a ticket will cost me for the five movies I want to see in the next month. Somebody has to keep the economy going, right? Maybe my movie tickets helped just a little bit with last month’s retail sales numbers. It turns out they were up, but let’s jump into the data. Retail sales were up 0.3% in April, according to the U.S. Commerce Department. Gains in March were also revised up to 0.8% from 0.6% in initial estimates.There were big gains at clothing stores. Price cuts on clothing helped lift sales 1.4%. Home and garden store sales were also up 0.4% with the weather warming. There was a 0.6% rise in sales at non-store retailers, which includes online and catalog sales.

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