Retail sales up for 10th straight month in April
WASHINGTON (AP) - May 12, 2011 (WPVI) -- Consumers spent more on gasoline, clothing and autos in April, pushing retail sales up for a 10th straight month. But much of the gain came from a surge in gasoline prices.
The Commerce Department says retail sales rose 0.5 percent in April after a 0.9 percent increase in March. Excluding a 2.7 percent jump in gasoline sales reflecting higher prices, the increase in retail sales was a much smaller 0.2 percent.
Gasoline pump prices have been surging in recent months, with the nationwide average hovering near $4 a gallon. Economists are worried that higher fuel costs will leave motorists with less money to spend on other items, and that will slow the overall economy.
retail sales, economy, business/finance
- Search for missing college student from Collegeville
- Stray Shower, Patchy Fog Tonight 52 min ago
- WATCH: Action News Online
- WATCH ABC is available in Philadelphia!
- Tornadoes hit Kansas, Oklahoma; no injuries reported 49 min ago
- Teen killed over iPad, 2 suspects arrested 20 min ago
- 15 motorcyclists arrested in NJ Turnpike chase
- Bear spotted in Bensalem, Bucks County
- 1 winning Powerball ticket sold in Florida
- Sketches released of Del. attempted abduction suspect
- Hofstra student killed by police during break-in
- Woman faces DUI charges after NE Phila. crash
- Phillies rally for 3-2 over Reds
- OTRC: Billboard Music Awards 2013 nominees list