Retail sales in the United States increased by 0.4% in April from the previous month, according to the advance estimates released by the Department of Commerce. This marks the first increase in two months, following declines of 0.7% in February and March.[0] However, the figure is below the expected 0.8% increase, and reflects only half of the growth that Wall Street had predicted.[1] Apart from cars, retail sales witnessed an anticipated rise of 0.4%. Core retail sales, which excludes automobiles, are likely to have increased by 0.4% in April, rebounding from a 0.4% drop in March. Although there was an increase in spending last month, only seven out of 13 retail categories experienced a rise in sales. These categories included motor vehicles and parts dealers, garden and home improvement stores, health and personal care stores, and general merchandise stores.[2] The figures are not adjusted for inflation.[2]
0. “US April retail sales +0.4% vs +0.8% expected” ForexLive, 16 May. 2023, https://www.forexlive.com/news/us-april-retail-sales-04-vs-08-expected-20230516/
1. “Retail spending rebounded in April” erienewsnow.com, 16 May. 2023, https://www.erienewsnow.com/story/48914088/retail-spending-rebounded-in-april
2. “US Retail Sales Increase in Sign of Steady Consumer Spending” Yahoo Finance, 16 May. 2023, https://finance.yahoo.com/news/us-retail-sales-increase-sign-125843880.html