According to a new report from the National Retail Federation (NRF), retail sales increased 0.7 percent in April, allaying fears of a consumer falloff. Excluding automobiles, gasoline stations and restaurants, sales rose 0.7 percent over March, according to NRF’s calculations. Overall U.S. retail sales saw an increase of 1.3 percent. “This is reflective of growth in a volatile and disrupted retail industry, where consumer engagement is evolving to reflect both new economic and changing market realities,” said Jack Kleinhenz, NRF Chief Economist.
The report also found that online and other non-store sales increased by 2.1 percent seasonally adjusted over the previous month and 8.6 percent unadjusted year-over-year. Apparel stores saw an increase of 1 percent seasonally adjusted over March and a decrease of 1.1 percent unadjusted over last year.
Other specifics of the report include:
- Sales at general merchandise stores were flat over the previous month and increased 0.4 percent year-over-year.
- Electronics and appliances stores’ sales increased 0.5 percent seasonally adjusted month-to-month and decreased 1.7 percent unadjusted year-over-year.
- Furniture and home furnishings stores’ sales increased 0.7 percent over the previous month and increased 4.5 percent unadjusted over last year.
- Sales at building materials and supplies stores decreased 1 percent over the previous month and increased 5.5 percent unadjusted year-over-year.
- Sporting goods stores’ sales increased 0.2 percent seasonally adjusted month-to-month and 6.5 percent unadjusted year-over-year.
Read the full Monthly Economic Review here to find out more details of NRF’s findings.