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Free AccessREPEAT:MNI DATA ANALYSIS:US April Sales +0.3%,Ex-MV +0.3%>
Repeats Story Initially Transmitted at 12:30 GMT May 15/08:30 ET May 15
--April Retail Sales Ex. Auto, Gas, Bldg Mat, Food Service +0.4%
By Kevin Kastner and Holly Stokes
WASHINGTON (MNI) - The value of retail sales rose by 0.3% in April,
right on analysts' expectations for a 0.3% gain, and were also up 0.3%
excluding motor vehicle sales, data released by the Commerce Department
Tuesday showed.
Analysts have recently had a tendency to overestimate sales, so
today's data keeps that trend for the ex-motor vehicle number, which was
expected to rise 0.5%
--MOTOR VEHICLES POST SURPRISE GAIN
Leading the gain in headline retail sales was a small surprise gain
in motor vehicles, which posted a 0.1% increase after a 2.1% surge in
the previous month. Analysts had expected vehicle sales to give back
some of that March jump.
Gasoline station sales rose by 0.8% in the month after an upward
revised 0.3% March increase, as foreshadowed by recent gains in the AAA
data.
However, food services and drinking places' sales were softer in
April, registering a 0.3% decrease after rising by an upward revised
1.2% in March. Building materials sales rebounded by 0.4% following a
1.0% decrease in March.
Retail sales excluding autos, gasoline, and building materials rose
by 0.3% in the month. Further, excluding food services as well as the
other three measures, retail sales rose 0.4%.
Other sales categories were generally higher, with the strong gain
seen in clothing sale, which rose 1.4%. However, there were declines in
the readings for health care stores, electronics stores, and sporting
goods stores.
--2Q CONSUMPTION OFF TO A BETTER START
Incorporating upward revisions to both February and March sales,
April retail sales are up 3.3% at an annual rate from the first quarter
average, a much better start than the weakness seen early in the first
quarter.
Sales excluding motor vehicles were up 3.0% from the previous
quarter, while sales excluding autos, building materials, and gas were
up 2.9%. When food services were also excluding, April sales were up
3.0% at an annual rate from the first quarter.
The comparisons suggest a solid start to second quarter
consumption. Annual revisions to be released on May 25 could alter the
current projections.
** MNI Washington Bureau: 202-371-2121 **
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.