Total retail sales were flat month-over-month in April (Briefing.com consensus +1.8%) following an upwardly revised 10.7% increase (from 9.8%) in March.
Excluding autos, retail sales declined 0.8% (Briefing.com 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.| APR | MAR | FEB | JAN | DEC | |
|---|---|---|---|---|---|
| Retail Sales | 0.0% | 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% |
| Autos/parts | 2.9% | 17.1% | -3.6% | 4.9% | 2.0% |
| Furniture | -0.7% | 8.1% | -5.2% | 13.9% | -0.8% |
| Nondurable goods | |||||
| General Merchandise | -4.9% | 9.7% | -6.0% | 10.1% | -1.8% |
| Food | 0.4% | 0.7% | -0.5% | 1.9% | -1.1% |
| Gasoline stations | -1.1% | 10.2% | 3.2% | 4.6% | 7.2% |
| Clothing | -5.1% | 22.7% | -5.5% | 6.3% | 2.5% |
| e*retailing/non-store | -0.6% | 4.7% | -3.1% | 16.9% | -9.5% |
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