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

Retail sales declined in April, missing expectations – CNBC

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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.

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