April Retail Sales Stagnate but Show Annual Growth

United States retail sales in April were somewhat mixed, according to data respectively issued today by the U.S. Department of Commerce’s Census Bureau and the National Retail Federation (NRF).

According to the data, April retail sales, at $705.2 billion, were flat compared to March and up 3.0% annually. Total retail sales, from February through April, rose 3% compared to the same period a year ago.  

April retail trade sales were up 0.4% over March and were up 2.7% annually. And non-store retailers, which include e-commerce sales, headed up 7.5% annually, with food services and drinking places posting a 5.5% increase.

NRF reported that February’s core retail sales, which it bases on Census data and excludes automobile dealers, gasoline stations, and restaurants, fell 0.2% on a seasonally-adjusted basis compared to March and were up 3.9% on an unadjusted basis annually. It added that core retail sales headed up 3.8% annually through the first four months of 2024, which NRF said was in line with its 2024 retail sales forecast of annual growth between 2.5%-to-3.5%.  

Visit Logistics Management to view the full story.

Related Article

 

National Retail Federation 2024 retail sales forecast calls for growth

Growth is in the cards for 2024 retail sales, according to a forecast issued this week by the Washington, D.C.-based National Retail Federation (NRF). The group is pegging 2024 retail sales to increase between 2.5%-to-3.5% to between $5.23 trillion and $5.28 trillion. Should this forecast come to fruition, NRF said that it would top 2023 retail sales, which rose 3.6% to $5.1 trillion.