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%).
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%.
