Shoppers extended stimulus-induced spending in April, maintaining a level of retail sales from the prior month with increased expenditures on autos and dining out.
Retail sales—a measure of purchases at stores, at restaurants and online—overall were unchanged last month from March, the Commerce Department reported Friday.
That kept spending at the same pace set by March’s upwardly revised 10.7% advance, which was influenced by government-stimulus money for most households.
The level of sales is much higher than before the pandemic,” said Scott Brown, chief economist at Raymond James Financial.
The leisure and hospitality sector, including restaurants, added 331,000 jobs in April, accounting for much of the country’s job creation last month.
”, Scott Brown, Raymond James Financial, “ It’s
Commerce Department, Raymond