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LATEST US DATA

April retail sales post largest gain in a year

Jump of 1.3% is a welcome reprieve for a sector that has struggled with tepid demand

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CHANGING FORTUNES: Receipts at clothing stores surged 1.0 per cent, the largest increase since May 2015. Online retail sales jumped 2.1 per cent, the biggest gain since June 2014.

Washington

US retail sales in April recorded their biggest increase in a year as Americans stepped up purchases of cars and a range of other goods, suggesting the economy was regaining momentum after growth almost stalled in the first quarter.

The Commerce Department said on Friday