Retail Sales “Unchanged” in April

by Calculated Risk on 5/15/2024 08:41:00 AM

On a monthly basis, retail sales were “virtually unchanged” from March to April (seasonally adjusted), and sales were up 3.0 percent from April 2023.

From the Census Bureau report:

Advance estimates of U.S. retail and food services sales for April 2024, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $705.2 billion, virtually unchanged from the previous month, but up 3.0 percent above April 2023. … The February 2024 to March 2024 percent change was revised from up 0.7 percent to up 0.6 percent (±0.1 percent).
emphasis added

Retail Sales Click on graph for larger image.

This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).

Retail sales ex-gasoline were down 0.2% in April.

The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.

Retail and Food service sales, ex-gasoline, increased by 3.0% on a YoY basis.

Year-over-year change in Retail Sales The change in sales in April was below expectations, and, sales in February and March were revised down.

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