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Thursday, May 23, 2019 6:05:59 AM EDT

Retail Sales Updated 15-May-19 09:23AM ET

Total retail sales declined 0.2% ( consensus +0.2%) after increasing an upwardly revised 1.7% (from 1.6%) in March.

Excluding autos, retail sales rose just 0.1% in April ( consensus +0.6) following an upwardly revised 1.3% increase (from 1.2%) in March.

Core retail sales, which exclude auto, gasoline station, building materials, and food services and drinking place sales, were little changed, which will be a weak input for calculating the goods component of personal consumption expenditures for Q2 GDP.

Motor vehicle and parts dealers sales declined 1.1% after increasing 3.2% in March.

Gasoline station sales rose 1.8% after increasing 3.3% in March.

Building material and garden equipment and supplies dealers sales declined 1.9%, hurt most likely by bad weather, after increasing 0.8% in March.

Nonstore retailer sales declined 0.2% after increasing 1.0% in March, demonstrating that the soft spending on discretionary goods in April wasn't just a weather issue.

The key takeaway from the report is that consumers curtailed discretionary spending on goods in April in a way that will temper the outlook for Q2 GDP growth.
Retail Sales-0.2%1.7%-0.3%0.8%-1.6%
Excluding Autos0.1%1.3%-0.3%1.4%-2.1%
Durable goods
Building Materials-1.9%0.8%-5.1%4.5%-0.1%
Nondurable goods
General Merchandise0.2%0.7%-0.3%0.5%-1.7%
Gasoline stations1.8%3.3%3.6%-1.7%-5.9%