Home Business Retail sales declined in April, missing expectations – CNBC

Retail sales declined in April, missing expectations – CNBC

10 min read

U.S. retail sales unexpectedly fell in April as motor vehicle purchases slumped, government data showed on Wednesday.

Retail sales fell 0.2% last month, the Commerce Department said. Economists polled by Reuters had forecast retail sales gaining 0.2% in April.

In March, retail sales increased a seasonally adjusted 1.6% from February, the strongest increase since September 2017.

The March gains marked a sharp rebound from a lackluster period of sales dating back to December. It was taken as a sign that the healthy job market has likely made consumers more eager to spend in ways that boost overall economic growth.

Let’s block ads! (Why?)

Source link


Check Also

Virginia Democrats vow to boycott event if Trump attends, invoke 'send her back' chants | TheHill – The Hill

Loading...   Democrats in Virginia’s state legislature are vowing to boycott a …