Canadian consumer spending sharply rebounded last month, according to preliminary data, after weaker-than-expected retail sales in the first quarter. Receipts for retailers jumped 0.7% in April, the fastest pace since September, according to the advance estimate from Statistics Canada released Friday. That followed a 0.2% drop in March, below expectations for a 0.1% decline in a Bloomberg survey and the statistics agency’s estimate for a flat reading. With a larger-than-forecast decline in March, retail sales were down 0.2% overall in the first quarter. Despite the April bounce, retail sales are still below levels ... (full story)