US retail sales flat, inflation fears on the rise

The US economic recovery showed signs of hitting some turbulence as  shoppers curbed their spending last month and manufacturing slowed due  to supply bottlenecks.

After a rush of shopping in March,  US retail sales were flat in April, and while auto sales rose, vehicle  production fell amid a global semiconductor supply crunch, according to  government data released Friday.

Meanwhile, a private survey  showed consumer confidence fell due to concerns about rising prices as  the reopening of the world's largest economy drives speculation of a  sustained rise in inflation.

Officials in President Joe Biden's  administration have tried to downplay the fears of a slowing recovery,  but acknowledged there could be some bumpy months ahead. 

"This  was an unprecedented economic downturn... where we completely powered  down the economy," said Cecilia Rouse, chair of Biden's Council of  Economic Advisers.