Economy, 2010 | featured news

Retail sales and industrial production in April both enjoyed continued growth, reinforcing the sustainability of the economic recovery in the United States. On Friday the U.S. Commerce Department reported retail sales gained 0.4% in April, ahead of Wall Street’s expected 0.2% rise, but below the 2.1% jump in March. Peter Newland, economist at Barclays Capital, notes that the total was driven by a 0.5% increase in both autos and gasoline, and a 6.9% jump in building material sales. All of that is nice, but core sales, which exclude these elements, actually fell 0.2%, which is much weaker than excepted.

While improving, the job market still has a long way to go before it can be counted on to provide a base for a sustained economic recovery.

Early reports from retailers show that Americans took a a breather from their March shopping spree in April, partly because Easter came earlier. But the spring selling season is ending up respectable, an encouraging sign for the economy....

U.S. auto sales continued to rise in April as the stabilizing economy and attractive discounts brought more consumers into showrooms.

Retail sales soared in March, the government said Wednesday, in the latest sign of improving consumer confidence.

The country’s trade deficit was $7.24 billion last month, as imports jumped with a surging domestic economy.

The wobbly housing market is showing a rare sign of strength: pending home sales were up significantly in February, a report released Monday said, suggesting that Americans took advantage of a tax credit for home buyers.

The 0.3 percent rise in consumer spending in February was considered a respectable showing, given the winter weather.

U.S. industrial production braked sharply in February, held back by severe winter storms that slammed parts of the country, while manufacturing activity in New York state stalled this month.

U.S. stocks rose broadly, with investors encouraged by a government report that job losses were less than expected in February.