U.S. retail sales rose for the third consecutive month in April, but new government figures suggest consumers could be keeping an eye on their spending.
Last month’s retail sales rose by 0.5 percent, from the downwardly revised 1.6 percent spike in March, according to new data from the Census Bureau released on May 14.
The headline reading was in line with economists’ expectations.
Transactions at gasoline stations increased by 2.8 percent, accounting for a large share of last month’s increase.
Since the start of the war in Iran—nearing its 12th week—the pain at the pump has intensified amid rising crude oil prices….