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Thursday, May 21, 2020
HomeNewsEconomyAdvance Retail Sales Collapse 16.4% in April

Advance Retail Sales Collapse 16.4% in April

Retail sales amid the Coronavirus (COVID-19) pandemic and economic crisis, symbolized by graph with word "Retail" going down. (Photo: AdobeStock)

Washington, D.C. (PPD) — The U.S. Census Bureau reported advance retail sales came in at $403.9 billion in April, down 16.4% (± 0.5%) monthly and 21.6% (± 0.7%) year-over-year. That is worse than economists had expected.

Forecasts ranged from a low of -16.9% to a high of -7.0%. The consensus forecast was -11.2%.

Total sales for the February 2020 through April 2020 period declined 7.7% (± 0.5%) from the same period a year ago. The February 2020 to March 2020% change was revised from -8.4% (± 0.4%) to -8.3% (± 0.3%).

Retail sales amid the Coronavirus (COVID-19) pandemic and economic crisis, symbolized by graph with word "Retail" going down. (Photo: AdobeStock)
Retail sales amid the Coronavirus (COVID-19) pandemic and economic crisis, symbolized by graph with word “Retail” going down. (Photo: AdobeStock)

Forecasts for retail sales less auto ranged from a low of -13.3% to a high of -3.5%. The consensus forecast was -8.6%. The advance estimate for April came in at -17.2%.

Forecasts for retail sales less auto and gas ranged from a low of -8.6% to a high of -2.5%. The consensus forecast was -7.6%. The advance estimate for April came in at -16.2%.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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