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MNI BRIEF: US April Retail Sales Slow More Than Expected

MNI (Washington)
WASHINGTON (MNI)

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%.

MNI Washington Bureau | +1 202-371-2121 | brooke.migdon@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | brooke.migdon@marketnews.com

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