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Saturday, May 30, 2020 12:05:27 PM EDT

Retail Sales Updated 15-May-20 09:27AM ET

Total retail sales declined a record 16.4% m/m ( consensus -11.9%) while retail sales, excluding autos, declined 17.2% m/m ( consensus -8.2%).

The sales downturn was extreme with double-digit declines in most categories.

Clothing and accessories sales plummeted 78.8%.

Electronics and appliance store sales fell 60.6%.

Furniture and home furnishing store sales dropped 58.7%.

Food services and drinking places sales declined 29.5%.

Motor vehicle and parts dealer sales were down 12.4%.

The one area of strength was nonstore retailers, which increased 8.4% m/m with the surge in online ordering.

The key takeaway from the report is that the broad-based weakness is a representation of the adverse spending shock that resulted from shutdown measures, announced pay cuts, and the massive jump in unemployment.
Retail Sales-16.4%-8.3%-0.4%0.8%0.1%
Excluding Autos-17.2%-4.0%-0.5%0.8%0.5%
Durable goods
Building Materials-3.5%-0.5%-1.8%3.4%1.5%
Nondurable goods
General Merchandise-20.8%7.1%-0.1%0.5%0.1%
Gasoline stations-28.8%-16.5%-2.9%-0.6%1.2%