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April US retail spending hits new record but lands below estimates as stimulus fades

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Americans’ spending at retailers rose to a fresh record high last month as the stimulus bump faded and the country reopened further, although they did not rise as much as economists expected.

Retail sales in the US were virtually unchanged in April, the Census Bureau announced Thursday. The median estimate from economists surveyed by Bloomberg was for a 1% gain. The reading places monthly sales at $619.9 million, a new record high just $136,000 above the one seen in March.

The reading also marks a second straight gain. March’s jump was revised higher to 10.7%.

The April reading sits details ⇒

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