Market news
15.05.2019, 12:52

U.S. retail sales unexpectedly drop in April

The Commerce Department announced on Wednesday the sales at U.S. retailers fell 0.2 percent m-o-m in April, following a revised 1.7 percent m-o-m surge in March (originally a gain of 1.6 percent m-o-m), hurt by declines in sales of motor vehicles and a range of other goods.

Economists had expected total sales would increase by 0.2 percent m-o-m in April.

Excluding auto, retail sales edged up 0.1 percent m-o-m in April after a revised 1.3 percent m-o-m advance in the previous month (originally a gain of 1.2 percent m-o-m), missing economists’ forecast for a 0.7 percent m-o-m advance.

Meanwhile, closely watched core retail sales, which exclude automobiles, gasoline, building materials and food services, and are used in GDP calculations, was flat m-o-m in April after an upwardly revised 1.1 percent m-o-m gain in March (originally a 1.0 percent m-o-m increase). 

In y-o-y terms, the U.S. retail sales rose 3.1 percent in April, decelerating from a revised +3.8 percent in the previous month (originally +3.6 percent).

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