MNI: U.S. retail sales plunged -16.4% in April,......>

MNI: U.S. retail sales plunged -16.4% in April, the largest drop recorded in the

history of the measure. The drop last month in retail sales surpassed the -11.9%

decrease expected by markets, according to BBG estimates, and reflects a severe

contraction of demand amid ongoing social-distancing efforts. Clothing &

clothing accessories stores were the hardest hit, plummeting -78.8% m/m.

Electronics and appliance stores also faced a -60.6% decrease while furniture

store sales fell by -58.7%. Food services and drinking places saw a -29.5% drop,

a contraction on par with March's -29.7% decline. Health and personal care items

also took a dive, dropping -15.2% after March's +5.0% uptick. Overall, April

retail sales excluding motor vehicles and gas stations fell -16.2%, a loss more

than double the expected -7.6% decrease.