IE Business Daily Business news for the Inland Empire.
National retail sales were up six percent in April year-over-year.
Most of the bad weather that plagued the midwest and east coast earlier this year went away last month, causing consumers to return to shopping malls, according to the International Council of Shopping Centers in New York.
“After sluggish demand earlier in the year … consumers increased their spending significantly in April,” said Michael S. Niemira, the council’s chief economist and vice president and director of research, in a statement released today. “The April pace [of shopping] was very strong, likely reflecting some pent-up demand being unleashed.”
Easter fell in April this year, adding about one percentage point to the increase for that month, according to the council.
Same-store sales this month are expected to increases three to 3.5 percent compared with May of last year, according to the council.
