NEW YORK CITY — US retail sales missed.
Sales rose by 0.4% month-over-month in April, according to the Commerce Department. Economists were expecting a 0.6% increase.
Excluding gas and auto sales, sales rose by 0.3%. This also came in below expectations of economists, who were anticipating an increase of 0.4%.
Gas station sales were up by 12.3% year-over-year, and nonstore retailers were up 11.9% year-over-year.
Last month’s retail sales were revised up to a +0.1% from -0.2%.
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