Retail sales in the U.S. climbed more than forecast in April, indicating the economic recovery is gaining momentum int the second quarter of 2010.
Sales increased 0.4 percent in April. Last week's Commerce Department report also upped the measure for March to a 2.1 percent gain -- larger than previously estimated. 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 to help sustain the expansion of the world’s largest economy.
“We’re seeing a broadening of the recovery,” said Brian Bethune, chief U.S. financial economist at IHS Global Insight in Lexington, Massachusetts, who correctly forecast the gain in industrial production. “Consumers are still engaged. There is some pent-up demand out there.”
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