Retail Sales Up; Jobless Claims Drop

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Consumers, spurred by a late Easter and warmer than usual weather, pushed retail sales up by a solid amount in April although soaring gasoline prices kept the increase below expectations.


The Commerce Department reported that retail sales increased 0.5 percent in April following a 0.6 percent advance in March. The slight slowdown was seen as an indication that the big jump in gasoline prices since early March was depressing demand for other consumer products. Wall Street analysts had been forecasting a more robust 0.8 percent advance in retail sales.



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