Consumers eased spending in April after tariff front-loading

American consumers slowed spending in April after a tariff-fueled purchasing boom, the Commerce Department said on Thursday.Why it matters: Shopping moderated notably after consumers front-loaded purchases to get ahead of the effects of President Trump's trade war. By the numbers: Retail sales rose by 0.1% in April after surging in March by 1.7%, a figure that the government said was higher than initially reported.Restaurants and bars were the big winner last month, as sales rose 1.2%, while home improvement stores saw sales rise 0.8%.But most other retail categories saw a slowdown in spending relative to March, including hobby shops (-2.5%), miscellaneous shops (-2.1%) and department stores (-1.4%). Sales at gasoline stations fell 0.5%, likely a result of prices falling at the pump. The data is not adjusted for inflation.The bottom line: Economists expect the trade war will cool consumer spending as tariffs lead to price increases — though the outlook is slightly brighter after the U.S.-China trade truce announced this week that eased tariffs.Walmart warned on Thursday that it would have to raise consumers prices as a result of tariffs, even with that China deal.

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Private U.S.-backed aid group says it will soon begin humanitarian relief operations in Gaza

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