Keeping you up to date on the latest data releases.
- Retail Sales
Total retail sales rose at a nonannualized rate of 0.1 percent in April after falling in March and January. On a year-over-year basis, retail sales increased 3.7 percent. Auto sales increased 1.0 percent in April after decreasing −0.6 percent in March. Excluding autos, retail sales fell 0.1 percent on a monthly basis indicating that auto sales contributed to April’s uptick in overall retail sales. After posting widespread declines last month, segments in April were much more mixed. At −4.7 percent, gasoline stations continued to drag down headline retail sales. Building materials (up 1.5 percent), clothing and accessories (up 1.2 percent), and nonstore retailers (up 1.4 percent) were several sources of strength. A less volatile indicator of sales growth, “core” retail sales (which excludes sales of autos, building supplies, and gas stations) increased 0.5 percent in April after increasing 0.1 percent in March. On a yearly basis, core retails sales are up 3.7 percent.