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Tuesday, May 15, 2018 — 15:48:53 (EDT)

NRF reports April 2018 retail sales up 2.8 percent over last year

Washington, May 15, 2018 -- April retail sales increased 0.4 percent seasonally adjusted over March and 2.8 percent year-over-year as consumers continued to spend, the National Retail Federation said today. The numbers exclude automobiles, gasoline stations and restaurants.

“Retail sales growth remains solid and on track as households benefit from tax cuts even though they have faced unseasonable weather and bumpy financial markets,” NRF Chief Economist Jack Kleinhenz said. “The tax cuts and higher savings levels should help consumers afford the recent surge in gasoline prices. And a solid job market, recent wage gains and elevated confidence translate into ongoing spending support.”

The three-month moving average was up 4.1 percent over the same period a year ago, which is in line with NRF’s forecast that 2018 retail sales will grow between 3.8 percent and 4.4 percent over 2017.

The April results build on improvement seen in March, which was up 0.3 percent monthly and 5.2 percent year over year.

NRF’s numbers are based on data from the U.S. Census Bureau, which said overall April sales – including automobiles, gasoline and restaurants – were up 0.3 percent seasonally adjusted from March and up 4.7 percent year-over-year.

Specifics from key retail sectors during April include:

About NRF
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private-sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF.com .

Source: Company press release.

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