US April retail sales +0.4% vs +0.8% expected

• Prior was -0.6% and adjusted in benchmark revisions (revised to -0.7%)

Details:

• Ex autos +0.4% vs +0.4% expected
• Prior ex autos -0.4%
• Control group +0.7 vs +0.3% expected
• Prior control group -0.3%
• Ex autos and gas +0.6% vs -0.3% prior
• Gasoline stations -0.3% vs -5.5% m/m prior
• Electronics and appliance stores -0.5% vs +2.1% m/m prior
• Furniture stores -0.7% vs --1.2% m/m prior
• Restaurants -0.2% vs +0.1% m/m prior

US retail and food services sales saw a modest 0.4% growth in April 2023, as per the advance estimates (which will be revised). This follows a downward revision in the month-over-month change from -0.6% to -0.7% for the February-March period. Despite the slight setback in the previous month, the overall sales from February to April 2023 still marked a solid 3.1% hike from the same period in 2022. to $680.5 billion.

April's retail trade sales mirrored the broader retail and food services trends, with a 0.4% rise from March 2023 and a 0.5% year-on-year increase. Nonstore retailers, an increasingly significant segment that's largely online shopping, outperformed with a substantial 8.0% growth compared to last year and +1.2% on the month.

The US dollar US Dollar The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel Read this Term has chopped on the report but is now slightly higher.