US Retail Sales – April 2018

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Key Points

  • According to the US Census Bureau, total US retail sales increased by 0.3% month over month in April on a seasonally adjusted basis, marking the second month of growth after a revised 0.8% advance in March. The April results were inline with economists’ expectations.
  • Nine of 13 major retail categories saw month-over-month increases in sales. Apparel and accessories stores led sales growth, with an increase of 1.4%.
  • On a year-over-year basis in April, total retail sales increased by 4.7% and retail sales excluding autos increased by 4.8%.
  • Following a sluggish first quarter, during which consumer spending grew at its slowest pace in nearly five years, spending is picking up, likely due to a recent increase in gasoline prices.
  • Economists remain confident that consumer spending will continue to be strong, citing the recent tax cuts,a healthy labor market and broader economic growth as drivers.

According to the US Census Bureau, total US retail sales increased by 0.3% month over month in April on a seasonally adjusted basis, marking the second month of growth after a revised 0.8% advance in March. The April results were inline with economists’ expectations.

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