Retail Sales Up in April

Washington, DC, May 11, 2006–Retail sales increased 0.5% in April, but most of the increased spending was at the gas pump, the Commerce Department said Thursday.

Gasoline sales surged 4.6% in April as the price rose toward $3 a gallon. Excluding gasoline sales, seasonally adjusted retail sales rose 0.1% in April. The figures are not adjusted for inflation. Auto sales fell 0.4% in April.

Excluding autos, retail sales increased 0.7%.

Economists were expecting a larger increase of about 0.7% for overall sales and 0.8% excluding autos.

In the past year, sales are up 6.6%. Real retail sales began the second quarter on a weak note, in line with forecasts that the economy would slow somewhat from the torrid 4.8% pace seen in the first quarter.

Retail sales increased 0.6% in March and a revised 0.5% excluding autos.