Retail Sales Up 0.9% in April

The Census Bureau's Advance Retail Sales Report for April was released this morning. Headline sales came in at 0.9% month-over-month to two decimals and was at the forecast. Core sales (ex Autos) came in at 0.6% MoM. Annual revisions were made.

Here is the introduction from today's report:

Advance estimates of U.S. retail and food services sales for April 2022, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $677.7 billion, an increase of 0.9 percent (±0.5 percent) from the previous month, and 8.2 percent (±0.7 percent) above April 2021. Total sales for the February 2022 through April 2022 period were up 10.8 percent (±0.7 percent) from the same period a year ago. The February 2022 to March 2022 percent change was revised from up 0.7 percent (±0.5 percent) to up 1.4 percent (±0.3 percent).

Retail trade sales were up 0.7 percent (±0.4 percent) from March 2022, and up 6.7 percent (±0.7 percent) above last year. Gasoline stations were up 36.9 percent (±1.8 percent) from April 2021, while food services and drinking places were up 19.8 percent (±4.4 percent) from last year. [view full report]

The chart below is a log-scale snapshot of retail sales since the early 1990s. The two exponential regressions through the data help us to evaluate the long-term trend of this key economic indicator.