Retail Sales Rebound in April; Increase 0.6 Percent Economy Continues to Face Headwinds
WASHINGTON, May 13, 2013 – Strengthening employment data, increasing housing prices and a record-breaking stock market provided consumers the confidence they needed to shop in April. According to the National Retail Federation, the world’s largest retail trade association, April retail sales (excluding automobiles, gas stations and restaurants) increased 0.6 percent seasonally adjusted from last month and increased 3.9 percent unadjusted year-over-year.
“In the face of higher taxes and sequester, consumers provided the economy a bit of a reprieve this month,” NRF President and CEO Matthew Shay said. “Despite colder spring weather and an early Easter, consumers shopped in April, demonstrating an inherent resiliency even as the economy faces serious headwinds, including stagnant job and wage growth.”
April retail sales, released today by the U.S. Department of Commerce, showed total retail and food services sales (which include non-general merchandise categories such as automobiles, gasoline stations, and restaurants) increased 0.1 percent seasonally adjusted month-to-month and increased 3.7 percent adjusted year-over-year.
“Today’s retail sales data is encouraging news,” NRF Chief Economist Jack Kleinhenz said. “However positive, retail sales and consumer spending in April may not necessarily translate into a stronger or healthier second quarter. NRF continues to forecast moderate sales growth for the year.”
Other findings from the April retail sales report include:
• Building material & garden equipment and supplies dealers stores’ sales increased 1.5 percent seasonally-adjusted and increased 7.7 percent unadjusted year-over-year.
• Clothing and clothing accessories stores' sales increased 1.2 percent seasonally-adjusted month-to-month and increased 3.5 percent unadjusted year-over-year.
• Electronics and appliance stores’ sales increased 0.8 percent seasonally-adjusted month-to-month and increased 1.2 percent unadjusted year-over-year.
• Furniture and home furnishing stores’ sales were flat seasonally-adjusted month-to-month and increased 6.4 percent unadjusted year-over-year.
• General merchandise stores’ sales increased 1.0 seasonally-adjusted month-to-month and decreased 2.7 percent unadjusted year-over-year.
• Health and personal care stores’ sales were decreased 0.1 seasonally-adjusted month-to-month and flat unadjusted year-over-year.
• Sporting goods, hobby, book and music stores’ sales increased 0.5 percent seasonally-adjusted month-to-month and increased 4.5 percent unadjusted year-over-year.
As the world’s largest retail trade association and the voice of retail worldwide, NRF represents retailers of all types and sizes, including chain restaurants and industry partners, from the United States and more than 45 countries abroad. Retailers operate more than 3.6 million U.S. establishments that support one in four U.S. jobs – 42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s This is Retail campaign highlights the industry’s opportunities for life-long careers, how retailers strengthen communities at home and abroad, and the critical role that retail plays in driving innovation. www.nrf.com