WASHINGTON – Retail sales in April increased 0.3 percent seasonally adjusted over March and 3 percent unadjusted year-over-year, according to calculations released today by the National Retail Federation. The numbers exclude automobiles, gasoline stations and restaurants.
“While the interplay between consumer confidence and spending is difficult to gauge, retail sales trends and recent consumer sentiment readings are consistent with a pickup in the pace of the economy in the coming months,” NRF Chief Economist Jack Kleinhenz said. “Retailers are multi-tasking as they attempt to get the right mix among products, inventory, employment, promotions and use of technology.”
"Low retail price inflation has continued, drawing in shoppers but providing heartburn to the bottom line for many retailers.”
“The housing recovery has been an important variable in consumers’ willingness to spend,” Kleinhenz said. “Low retail price inflation has continued, drawing in shoppers but providing heartburn to the bottom line for many retailers.”
On a three-month moving average, retail sales have grown 2.6 percent year-over-year. When looking at business lines, performance in April was driven by online and other non-store sellers, electronics stores, and building materials and supplies. On a year-over-year basis, the clothing and accessories segment saw an increase of 1.7 percent, while general merchandise saw an uptick of 0.8 percent.
A few specifics include:
- Online and other non-store sales increased 1.4 percent seasonally adjusted over March and increased 9.4 percent unadjusted year-over-year.
- Sales at clothing and accessories stores decreased 0.5 percent seasonally adjusted from March but increased 1.7 percent unadjusted year-over-year.
- Sales at general merchandise stores decreased 0.5 percent seasonally adjusted over March but increased 0.8 percent year-over-year.
- Electronics and appliances stores’ sales increased 1.3 percent seasonally adjusted over March but decreased 0.1 percent unadjusted year-over-year.
- Furniture and home furnishings stores’ sales decreased 0.5 percent seasonally adjusted from March but increased 0.9 percent unadjusted year-over-year.
- Sales at building materials and supplies stores increased 1.2 percent seasonally adjusted from March and increased 5.7 percent unadjusted year-over-year.
- Sporting goods stores’ sales increased 0.6 percent seasonally adjusted from March but decreased 3.3 percent unadjusted year-over-year.
- Sales at health and personal care stores increased 0.8 percent seasonally adjusted over March but decreased 0.6 percent unadjusted year-over-year.
About NRF
The National Retail Federation is the world’s largest retail trade association. Based in Washington, D.C., NRF represents discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private-sector employer, supporting one in four U.S. jobs — 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF.com