Retail sales increased for the tenth straight month in April, further evidence that the retail sector and consumer spending continue to lead the economic recovery. According to the National Retail Federation, retail industry sales (which exclude automobiles, gas stations, and restaurants) for April increased 0.2 percent seasonally adjusted from March and 4.0 percent unadjusted year-over-year, a positive but modest increase compared to previous months’ results, evidence that some consumers are beginning to feel the strain of high food and gas costs.
