No Unharsh Weather Rebound: Retail Sales Miss Across The Board

Having been revised up to a 1.5% growth for March (the most since March 2010), retail sales crumbled across the board in April as the promise of un-harsh weather rebounds evaporated into the reality of a one-off pent-up demand pop. All sub-series of retail sales missed expectations with Ex-Auto/Gas actually dropping 0.1%. The broad weakness was led by furniture (-0.6%) and electronics stores (-2.3%).

The broadest measure of retail sales missed...


and ex-autos/gas saw a drop of 0.1% and its 2nd biggest miss in over a year...


The breakdown: after sliding 1.6% in March, electronics and appliances stores tumbled -2.3% in April. Adding insult to housing contraction injury, furniture and home furnishings stores saw a -0.6% drop in April also, while miscellaneous store sales tumbled by 2.3%.


As for the retail sales control group, yup: that is a negative print from March.


No comments yet! Be the first to add yours.