US Retail sales stagnate in April but offset by an upward revision to march data

Fears of the U.S. economy running hot receded on Friday after new data showed a slowdown in consumer spending in April. Retail sales were flat on the month, falling short of expectations of a 1% gain. However, the monthly gain for March was revised up by a full percentage point to 10.7%., leaving aggregate spending roughly where economists expected it to be over the two months.

Source: The Hindu Business Line

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