U.S. Shoppers Continued Stimulus-Fueled Spending in April

[mahatmakanejeeves]

Source: The Wall Street Journal.

ECONOMY U.S. ECONOMY

U.S. Shoppers Continued Stimulus-Fueled Spending in April

Retail sales were up for autos, dining out, while consumers pulled back on other goods purchases

By Amara Omeokwe
Updated May 14, 2021 10:43 am ET

Shoppers extended stimulus-induced spending in April, maintaining a level of retail sales from the prior month with increased expenditures on autos and dining out.

Retail sales—a measure of purchases at stores, at restaurants and online—overall were unchanged last month from March, the Commerce Department reported Friday. That kept spending at the same pace set by March’s upwardly revised 10.7% advance, which was influenced by government-stimulus money for most households.

“Flat sales going from March to April is still pretty strong. The level of sales is much higher than before the pandemic,” said Scott Brown, chief economist at Raymond James Financial. “It’s still a sign that consumer spending is pretty healthy at this point.”

Sales were up 2.9% at auto and parts dealers, where shortages in available cars have driven up prices, and 3% at restaurants and bars, a positive sign for the hard-hit industry as the U.S. economy more fully opens.

The leisure and hospitality sector, including restaurants, added 331,000 jobs in April, accounting for much of the country’s job creation last month. Commerce’s Friday report showed sales at restaurants and bars in April were just 2% lower than their levels in February 2020, just before the pandemic took hold in the U.S.

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Read more: https://www.wsj.com/articles/us-economy-april-retail-sales-coronavirus-recovery-11620941526

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Retail sales were flat in April, as shoppers pulled back on goods purchases while increasing spending on services

Link to tweet

[dalton99a]

1. Corporate CEOs: "Hey, look at all the extra money that people have. Let's raise prices"

[jimfields33]

2. Yep. Inflation is ugly

It pisses me off that it won’t go down after the money dries up. Oh maybe they’ll just shrink the container. That’s a nice little trick they do as well.

[VarryOn]

7. In 2012, my wife and I had our 4 bedroom, 3 bathroom house on the market....

After getting 14 appointment for showing requests in less than 12 hours, we reduced our price. NOT!

There were a lot of dollars chasing our house...and it was far from Versaille or Buckingham Palace...a mere 2,200 hundred ranch style needing several upgrades.

We raised the price $23,000...we so.d for $4,300 over that price price.

We weren't CEOs. We acted naturally. Not greedy, at all.

I'm concerned about inflation. A lot of people have quite a bit of money. They are more willing to increase what they're are willing to spend. Sellers will naturally increase they're selling price. Economy 10well,

Not greedy. The opposite works well, too. It's how my wife are going to Vegas in two weeks, staying at the Wynn Encore for less than $200 per night...where we paid over $450 three years ago.

[elleng]

3. Guess I'll contribute, off to the grocery store

(and MAYBE the thrift store, for 'already read' books for grandkids.)

[mahatmakanejeeves]

4. Looks like rain off toward Arlington and MoCo, to the north of me. NT

[elleng]

5. 'Mostly sunny' forecast here,

tho it's actually somewhat cloudy.

[IronLionZion]

6. Sunny here in DC. not many clouds either nt