Friday, May 15, 2020

Retail Sales decreased 16.4% in April

by Calculated Risk on 5/15/2020 08:43:00 AM

On a monthly basis, retail sales decreased 16.4 percent from March to April (seasonally adjusted), and sales were down 6.2 percent from April 2019.

From the Census Bureau report:

Advance estimates of U.S. retail and food services sales for April 2020, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $403.9 billion, a decrease of 16.4 percent from the previous month, and 21.6 percent below April 2019. Total sales for the February 2020 through April 2020 period were down 7.7 percent  from the same period a year ago. The February 2020 to March 2020 percent change was revised from down 8.4 percent to down 8.3 percent.
emphasis added
Retail Sales Click on graph for larger image.

This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).

Retail sales ex-gasoline were down 15.5% in March.

The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.

Year-over-year change in Retail Sales Retail and Food service sales, ex-gasoline, decreased by 19.7% on a YoY basis.

The decrease in March was well below expectations, and sales in February and March were revised down, combined.