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Tuesday, June 15, 2021 6:57:53 AM EDT

Retail Sales Updated 14-May-21 09:22AM ET

Total retail sales were flat month-over-month in April ( consensus +1.8%) following an upwardly revised 10.7% increase (from 9.8%) in March.

Excluding autos, retail sales declined 0.8% ( consensus +1.2%) following an upwardly revised 9.0% increase (from 8.4%) in March.

Motor vehicle and parts dealers sales increased 2.9% after increasing 17.1% in March.

Gasoline station sales declined 1.1% after increasing 10.2% in March.

Electronics and appliance store sales rose 1.2% after increasing 17.5% in March.

Clothing and clothing accessories stores sales fell 5.1% after increasing 22.7% in March.

Building material and garden equipment and supplies dealers sales dropped 0.4% after increasing 13.9% in March.

Nonstore retailer sales were off 0.6% after increasing 4.7% in March.

Food services and drinking places sales jumped 3.0% after increasing 13.5% in March.

The key takeaway from the report is that the "weakness" was really driven by a tough sequential comparison; moreover, the market won't be too concerned by the "miss," knowing that hiring activity is going to increase, that wages will likely increase, and that there is a huge amount of personal savings at the ready to spend in coming months.
Retail Sales0.0%10.7%-2.9%7.6%-1.2%
Excluding Autos-0.8%9.0%-2.7%8.3%-2.1%
Durable goods
Building Materials-0.4%13.9%-4.8%7.8%0.3%
Nondurable goods
General Merchandise-4.9%9.7%-6.0%10.1%-1.8%
Gasoline stations-1.1%10.2%3.2%4.6%7.2%