U.S. retail sales beat forecasts, boosting hopes for a soft landing

American consumers continued to spend at a healthy clip last month, with retail sales figures surpassing analyst forecasts and bolstering the case that the economy can avoid a sharp downturn.

Spending gains were broad-based, with notable strength in restaurants, electronics and home goods.

Economists cautioned that elevated credit-card debt and cooling wage growth could weigh on future spending.