Investing.com - U.S. retail sales rose more slowly than expected April, according to official figures released on Tuesday.
U.S. retail sales rose 0.3% last month the Commerce Department said, after an upwardly revised increase of 0.8% in March.
Economists had forecast a reading of 0.4%.
Excluding automobiles, gasoline, building materials and food services, retail sales also rose just 0.3%, after an upwardly revised 0.4% increase in March.
The consensus forecast was for a reading of 0.5%.
These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product.
At the same time, a separate report showed that the New York Federal Reserve’s Empire State Manufacturing index came in at 20.10 in May from 15.80 in April, five index points above analysts’ forecast.