MNI BRIEF: US April Retail Sales Slow More Than Expected

U.S. retail sales growth stumbled in April, coming in unchanged from March, the Census Bureau said Friday, far below the 1% gain forecast by Bloomberg. March's 9.7% spike was revised even higher to 10.7%.

Notable declines came from clothing and clothing accessory stores (-5.1%), general merchandise stores (-4.9%), sporting goods stores (-3.6%), and gas stations (-1.1%). Those were offset by increases in sales at food services and drinking places (+3%), motor vehicle and parts dealers (+2.9%), and electronics and appliance stores (+1.2%).

Excluding vehicle sales, retail sales were down 0.8% in April when markets had forecast a gain of 0.7%. Excluding vehicle and gas station sales, retail sales were also down 0.8%.