Sales At US Retailers Slow Sharply In April
by The Daily Lede
WASHINGTON (MarketWatch) – Americans shopped less in April after splurging in March, with retail sales rising a scant 0.1%, the government reported Tuesday. Economists polled by MarketWatch had forecast retail sales to rise a seasonally adjusted 0.4% last month after a revised 1.5% gain in March. The increase in March was originally reported as 1.1%. Excluding the auto sector, retail sales were unchanged, the Commerce Department said. So-called core or control group sales fell 0.2%. That category strips out cars, gasoline and building materials and gives a better sense of retail-sales trends. Retail sales account for about one-third of consumer spending, the main conduit of U.S. economic activity. In the past 12 months, retail sales have risen 4%, about two-thirds the historic average. The latest retail report includes the government’s annual benchmark revisions meant to provide more accurate data.
-Jeffry Bartash; 415-439-6400; AskNewswires@dowjones.com
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