Retail Sales Unexpectedly Rise

Updated:

Loading
Nothing would get in the way of the determined shopper in April - not payroll tax hikes, not government spending cuts, not even unusually cold weather. Retail sales unexpectedly rose one-tenth of a percent. Strip out volatile categories like gas and cars, and you get a half-percent increase. Joseph Feldman, assistant research director at Telsey Advisory Group, says the savings from lower gas prices and the wealth effect shielded consumers from the economic headwinds.