Retail Sales Rebound 0.4% in April

This article was originally written by Doug Short. From 2016-2022, it was improved upon and updated by Jill Mislinski. Starting in January 2023, AP Charts pages will be maintained by Jennifer Nash at Advisor Perspectives/VettaFi.

The Census Bureau's Advance Retail Sales Report for April was released this morning. Headline sales were up 0.4% month-over-month, below the expected 0.8% increase. Core sales (ex Autos) were also up 0.4% in April, in-line with expectations.

Here is the introduction from today's report:

Advance estimates of U.S. retail and food services sales for April 2023, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $686.1 billion, up 0.4 percent (±0.5 percent)* from the previous month, and up 1.6 percent (±0.7 percent) above April 2022. Total sales for the February 2023 through April 2023 period were up 3.1 percent (±0.4 percent) from the same period a year ago. The February 2023 to March 2023 percent change was revised from down 0.6 percent (±0.5 percent) to down 0.7 percent (±0.2 percent).

Retail trade sales were up 0.4 percent (±0.5 percent)* from March 2023, and up 0.5 percent (±0.5 percent)* above last year. Nonstore retailers were up 8.0 percent (±1.2 percent) from last year, while food services and drinking places were up 9.4 percent (±2.5 percent) from April 2022.