WASHINGTON – Despite rising gas prices and cautious consumer sentiment, retail sales in April made gains in both monthly and annual comparisons. That marked the 7th consecutive month of gains.
Sales at furniture and home furnishings stores were down 0.06% month over month seasonally adjusted but up 2.58% year over year unadjusted, according to the CNBC/NRF Retail Monitor.
Total retail sales, excluding automobile dealers and gasoline stations, were up 0.34% seasonally adjusted month over month and up 5.73% unadjusted year over year in April. That compared with increases of 0.4% month over month and 6.59% year over year in March.
The Retail Monitor calculation of core retail sales (excluding restaurants in addition to auto dealers and gas stations) was also up 0.34% month over month in April and was up 5.53% year over year. That compared with increases of 0.41% month over month and 7.05% year over year in March.
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Total sales were up 6.07% year over year during the first four months of the year, and core sales were up 5.99%.
“Spending on household priorities remains solid, supported by a steady labor market, wage growth and a significant influx of cash from tax refunds. While consumers are mindful on costs, retailers are working hard to keep everyday goods affordable for American families,” said NRF (National Retail Federation) President and CEO Matthew Shay.
In contrast to survey-based numbers collected by the Census Bureau, the Retail Monitor uses actual, anonymized credit and debit card purchase data compiled by consumer insights firm Affinity Solutions and does not need to be revised monthly or annually. The U.S. Census Bureau data will be released by the Department of Commerce on May 14.
April sales were up in all but one of nine categories on a yearly basis, led by clothing stores, sporting goods stores and health and personal care stores, and, and were also up in all but one category on a monthly basis.
In addition to the data on furniture and home furnishings stores, specifics from key sectors include:
- Clothing and accessories stores were up 0.59% month over month seasonally adjusted and up 9.75% year over year unadjusted.
- Sporting goods, hobby, music and book stores were up 0.12% month over month seasonally adjusted and up 8.55% year over year unadjusted.
- Health and personal care stores were up 0.45% month over month seasonally adjusted and up 8.42% year over year unadjusted.
- Digital products (such as electronic books and games) were up 1.11% month over month seasonally adjusted and up 8.09% year over year unadjusted.
- General merchandise stores were up 0.15% month over month seasonally adjusted and up 6.19% year over year unadjusted.
- Electronics and appliance stores were up 0.16% month over month seasonally adjusted and up 4.03% year over year unadjusted.
- Grocery and beverage stores were up 0.36% month over month seasonally adjusted and up 3.21% year over year unadjusted.
- Building and garden supply stores were up 0.09% month over month seasonally adjusted but down 2.74% year over year unadjusted.
