• U.S. retail sales are flat in April

Market news

13 May 2015

U.S. retail sales are flat in April

The U.S. Commerce Department released the retail sales data on Wednesday. The U.S. retail sales were flat in April, missing expectations for a 0.2% increase, after a 1.1% gain in March. March's figure was revised up from a 0.9% increase.

The reading was driven by lower automobiles and gasoline purchases. Automobiles sales decreased 0.4% in April, while gasoline station sales decreased 0.7%.

Retail sales excluding automobiles increased 0.1% in April, missing forecasts for a 0.5% rise, after a 0.7% gain in March. March's figure was revised up from a 0.4% rise.

Sales at clothing retailers climbed 0.2%. Sales at building material and garden equipment stores were up 0.3% and sales at restaurants and bars increased 0.7%.

Sales at electronics and appliance outlets were down 0.4% in April, whiles sales at online stores gained 0.8%.

These figures are adding to concerns that U.S. economy is losing momentum, and the Fed might delay its first interest rate hike.

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