US retail sales steadily picking up as summer approaches
As temperatures rise and the summer vacation season gets closer, American consumers are feeling more confident in their own financial conditions as well as the nation's economy. This optimism is visible in recent retail sales, which increased between April and March, and are expected to keep growing over the next few months.
The Associated Press notes that the latest statistics from the International Council of Shopping Centers revealed that April sales among retailers that have been open for at least one year jumped 4.7 percent when compared to the same time a year prior. These merchants, as well as big-name brands such as Wal-mart, Target and Macy's, reported strong sales last month, which most analysts believe is fueled by the nation's improving employment sector and rises in worker wages for many Americans, the source explains.
These positive numbers come after a less-than-stellar March, in which retail sales fell 0.4 percent from the previous month, the AP reports in a separate article. Data from the Commerce Department showed that the decline followed a gain of 1 percent in February. This led many analysts to believe that consumers were once again reining in their spending due to payroll tax increases and sluggish economic recovery. However, April's numbers are giving retailers hope that a solid summer season is on the horizon.
