U.S. Economy: Retail Sales, Industrial Output Exceed Forecasts

Retail sales and industrial production in the U.S. climbed more than forecast in April, indicating the economic recovery gained momentum at the start of the second quarter.

Sales increased 0.4 percent last month after a 2.1 percent gain in March that was larger than previously estimated, Commerce Department figures showed today in Washington. Production rose 0.8 percent, the most in three months, the Federal Reserve said.

Another report showed consumer sentiment improved in May following four straight months of payroll gains, suggesting Americans will keep shopping at retailers including Home Depot Inc. and J.C. Penney Co. Factories are cranking up assembly lines and hiring to meet rising demand at home and abroad, helping to sustain the expansion of the world’s largest economy.

Read Full Article from BusinessWeek

- Posted: 2010-05-14 13:12:52

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