U.S. Retail Sales Increase Strongly In April

U.S. retail sales increased strongly in April as consumers bought motor vehicles amid an improvement in supply and frequented restaurants, providing a powerful boost to the economy at the start of the second quarter.

“Given this show of strength from consumers, speculation that the U.S. economy is in danger of an imminent plunge into recession look badly misplaced,” said Paul Ashworth, chief U.S. economist at Capital Economics in New York. Read more at Reuters.