Some retail sales up in April

Despite sky-high gas prices and a weakening job market, some retail spending rose last month.
MAY 13, 2008
Despite sky-high gas prices and a weakening job market, some retail spending rose last month, the Department of Commerce reported today. Retail sales, excluding cars, were up 0.5% for the month after rising 0.4% in March. But total purchases slipped 0.2%, the Commerce Department reported. Sales in electronics stores rose 1.4% from March, with clothing store sales jumping 0.7% and sales at general merchandise stores increasing 0.5%. Yet gasoline station sales declined 0.4% from March, with purchases at motor vehicle and parts dealers dropping 2.8%. Prices paid for imported goods rose 1.8% due to the increasing prices of petroleum and non-petroleum imports, following a 2.9% jump in March, according to a Department of Labor report issued today. April export prices rose 0.3% after increasing 1% in each of the previous three months. Agricultural prices fell 2.2% last month the first decrease in 11 months and the largest since an 8.4% drop in August 2004.

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