Data released just moments ago from the US Census Bureau showed a rise in US retail sales in April, exceeding market expectations. Sales rose to $724.1 billion, a 0.1% increase compared to March’s reading of 1.4% (expected 0.0%), and a 5.2% year-over-year increase.
Core sales, excluding auto prices, fell 0.1% in April, compared to a 0.5% increase in March. Sales at auto and parts dealers rose 9.4%, while sales at food and beverage establishments rose 7.8%.