Retail sales were flat in April as stimulus spending wanes

<p>NEW YORK &mdash; Retail sales in the U.S. were flat in April, after soaring in March, when many Americans received $1,400 stimulus checks that boosted spending. </p>
<p>The report Friday from the U.S. Commerce Department was worse than the 0.8% growth Wall Street analysts had expected. Americans started receiving a third round of stimulus checks in March, helping retail sales soar 10.7% that month. </p>
<p>Friday’s report comes amid other signs the economy is improving as vaccinations accelerate and business restrictions are relaxed. The number of Americans seeking unemployment benefits fell last week to 473,000, a new pandemic low. And consumer confidence hit its highest level last month since the pandemic began.</p>
<p>On Thursday, the U.S. Centers for Disease Control and Prevention said vaccinated Americans don’t need to wear a mask or social distance outdoors and in most indoor settings, which may get more people to travel, eat out or shop. </p>
<p>Consumer spending, which makes up two-thirds of all economic activity in the U.S., is closely monitored by economists to gauge the nation’s economic health. Friday’s report covers a third of all consumer spending, but doesn’t include services, like hotel stays or haircuts. </p>