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).