• U.S. retail sales unexpectedly flat in April

Market news

14 May 2021

U.S. retail sales unexpectedly flat in April

The Commerce Department reported on Friday the sales at U.S. retailers were flat m-o-m in April, following a revised 10.7 percent m-o-m surge in March (originally a 9.8 percent m-o-m jump).

Economists had expected total sales would increase 1.0 percent m-o-m in April.

According to the report, advances in retail sales at food services and drinking places (+3.0 percent m-o-m), motor vehicles and part dealers (+2.9 percent m-o-m) and electronics (+1.2 percent m-o-m) were offset by declines at clothing stores (-5.1 percent m-o-m), general merchandise stores (-4.9 percent m-o-m), sporting goods, hobby, musical instruments and books (-3.6 percent m-o-m), gasoline stations (-1.1 percent m-o-m) and nonstore retailers (-0.6 percent m-o-m).

Excluding auto, retail sales fell 0.8 percent m-o-m in April after a revised 9.0 percent m-o-m jump in the previous month (originally an 8.4 percent m-o-m increase), being worse than economists’ forecast of a 0.7 percent m-o-m gain.

Meanwhile, closely watched core retail sales, which exclude automobiles, gasoline, building materials and food services, and are used in GDP calculations, dropped 1.5 percent m-o-m in April after a revised 7.6 percent m-o-m jump in March (originally a 6.9 percent m-o-m climb).

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