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April retail sales up, but not as much as months prior

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Sales at U.S. retailers rose in April, reflecting gains at service stations and grocery stores as fuel and food prices climbed, Bloomberg reported.

The 0.5 percent increase was the smallest since July and followed a 0.9 percent March rise that was more than double the previous estimate, according to figures released by the U.S. Commerce Department.

Mounting bills for gasoline and groceries are leaving consumers with less money for other purchases. At the same time, some chains such as Macy’s Inc. topped analysts’ sales estimates last month, a sign that the improving job market will prevent consumer spending from faltering. Consumer spending accounts for about 70 percent of the economy.

“Consumer resilience has begun to fray a little because of higher gas prices,” said Yelena Shulyatyeva, an economist at BNP Paribas, in an interview with Bloomberg. “Consumers are spending little by little. We expect the labor market to continue its recovery.”