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Gas prices squeeze budgets as April retail shows mixed demand

1 min read
Source: CNN
Gas prices squeeze budgets as April retail shows mixed demand
Photo: CNN
TL;DR

Americans are paying more at the pump as gas prices rise amid international tensions, while April retail sales rose 0.5% from March. Gas-station sales jumped 2.8% after March’s 13.7% surge, even as purchases at furniture stores, auto dealers, department stores and clothing shops declined. The core “control group” rose 0.46%, indicating underlying demand remains solid despite price spikes. The labor market remains healthy with unemployment at 4.3% and 115,000 jobs added in April, suggesting spending resilience for now, though extended high energy costs could weigh on budgets later in the year.

Topics:top-newsbusiness#business#consumer-spending#durable-goods#gas-prices#retail-sales#unemployment
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  1. Retail sales rose for the third consecutive month in April  CNN
  2. Retail sales growth slowed in April as higher gas costs left less room for nonessentials  Los Angeles Times
  3. U.S. retail sales rise again, but higher gas prices and inflation play a big role  MarketWatch
  4. Consumers Spent More in April Despite High Gas Prices  The New York Times
  5. Retail sales growth slowed in April as Iran war fuels higher gas prices  PBS

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