Retail sales up 0.4% in April from March, buoyed by solid job market, easing inflationary pressures

By ANNE D’INNOCENZIO
AP Retail Writer

NEW YORK (AP) — Consumers picked up their spending modestly in April from March, buoyed by a solid job market and easing inflationary pressures. A bump up in demand for new cars also helped results, according to the Commerce Department report issued Tuesday. Retail sales increased 0.4% in April from March when it was down 0.7%. It marked the first increase since January when unusually warm weather and a big jump in Social Security benefits likely spurred more spending. Spending by Americans has remained remarkably resilient with signs of weakness elsewhere in the economy. A solid job market has helped to prop up spending. But there’s still been a broader pullback in spending as inflation still remains high despite some easing, and rising interest rates are taking a toll.