Retail sales go nowhere in April

Sales in April didn't grow at all, falling short of expectations, while sales excluding autos and gas rose just 0.2%, also well below expectations.

Expectations were for sales to rise 0.2% in April after a 0.9% advance in March.

Excluding the sales of cars and gas, sales were expected to rise 0.6% month-on-month in April.

Last month's numbers, however, were revised higher, with sales rising 1.1% in March and sales excluding autos and gas rising 0.7% after a previously reported increase of 0.5%.

Economists are looking to see if this report shows signs that US consumers are bouncing back after a slow winter, or signs that consumers are taking their gas savings from earlier this year and spending, rather than saving, this money.

More to come ...