Market Updates
Retail Sales Flat in April
Brian Turner
15 May, 2024
Washington, D.C.
Retail sales in April rose less than expected as consumers battled elevated prices for food and shelter and high interest rates.
Advance retail sales adjusted for seasonal factors but not for inflation were flat compared to the previous month in April, the U.S. Census Bureau reported Wednesday.
Retail sales rose 3.0% from a year ago to $705.2 billion, indicating consumers are still spending but staying focused on the basics and avoiding discretionary items.
March retail sales were upwardly revised to 0.7% from the previous estimate of a 0.6% increase.
Retail trade sales were virtually unchanged from March but up 2.7% above last year.
Nonstore retailers were up 7.5% from last year, while food services and drinking places were up 5.5% from April 2023.
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