According to the National Retail Federation (NRF), retailers
finally have a reason to cheer. Retail industry sales for April
(which exclude automobiles, gas stations and restaurants) rose 2.3
percent unadjusted over last year and 0.6 percent seasonally
adjusted month-to-month.
April retail sales released today by the U.S. Commerce Department
show total retail sales (which include non-general merchandise
categories such as autos, gasoline stations and restaurants)
decreased 0.2 percent seasonally adjusted from the previous month
and increased 2.6 percent unadjusted year-over-year.
"While it's apparent that consumers are still holding back, the
spring season helped get people back into stores," said the NRF's
chief economist Rosalind Wells. "The month-to-month sales increase
was the largest we've seen since last November, a much welcomed
reprieve."
As consumers continue to stick to necessity-type purchases, sales
in health and beauty care stores increased a solid 3.1 percent
unadjusted year-over-year and 0.4 percent seasonally adjusted from
last month.
Thanks to the onset of spring-like weather in much of the country,
building material, garden equipment and supplies stores had slight
sales increases for the first time in months. Sales increased 1.9
percent seasonally adjusted from March and 1.2 percent unadjusted
year-over-year. Sporting goods, hobby, book and music stores sales
also saw healthy increases. Sales rose 4.7 percent unadjusted
year-over-year and 0.4 percent seasonally adjusted from last month.
Electronics and appliance stores sales increased 5.1 percent
unadjusted from last year, and 1.4 percent seasonally adjusted from
March. Clothing and clothing accessories stores sales increased 0.7
percent seasonally adjusted from last month, and 0.5 percent
unadjusted year-over-year.
Retailers See Largest Month-to-Month Increase Since November
May 16, 2008
According to the National Retail Federation (NRF), retailers finally have a reason to cheer. Retail industry sales for April (which exclude automobiles, gas stations and restaurants) rose 2.3 percent unadjusted over last year and 0.6 percent seasonally adjusted month-to-month.
April retail sales released today by the U.S. Commerce Department show total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) decreased 0.2 percent seasonally adjusted from the previous month and increased 2.6 percent unadjusted year-over-year.
"While it's apparent that consumers are still holding back, the spring season helped get people back into stores," said the NRF's chief economist Rosalind Wells. "The month-to-month sales increase was the largest we've seen since last November, a much welcomed reprieve."
As consumers continue to stick to necessity-type purchases, sales in health and beauty care stores increased a solid 3.1 percent unadjusted year-over-year and 0.4 percent seasonally adjusted from last month.
Thanks to the onset of spring-like weather in much of the country, building material, garden equipment and supplies stores had slight sales increases for the first time in months. Sales increased 1.9 percent seasonally adjusted from March and 1.2 percent unadjusted year-over-year. Sporting goods, hobby, book and music stores sales also saw healthy increases. Sales rose 4.7 percent unadjusted year-over-year and 0.4 percent seasonally adjusted from last month.
Electronics and appliance stores sales increased 5.1 percent unadjusted from last year, and 1.4 percent seasonally adjusted from March. Clothing and clothing accessories stores sales increased 0.7 percent seasonally adjusted from last month, and 0.5 percent unadjusted year-over-year.