Shoppers in the United States maintained steady spending habits in April, according to new figures from the US Census Bureau, indicating a resilient consumer base amid ongoing concerns over tariffs on imported goods.
Despite modest growth compared to the previous month, retail sales trends suggest that the broader US economy remains supported by solid employment figures, wage gains and reduced energy costs.
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Monthly retail sales growth slows but remains positive
Overall US retail sales in April edged up by 0.1% on a seasonally adjusted basis compared to March, the Census Bureau reported. On an unadjusted year-over-year basis, sales rose 5.2%.
This follows a stronger monthly increase of 1.7% in March, which also saw the same 5.2% annual growth rate. The latest data reflect a slowdown in momentum but continued strength in consumer demand.
The National Retail Federation (NRF) noted that core retail sales—which exclude sectors such as automobile dealerships, petrol stations and restaurants—declined by 0.1% on a seasonally adjusted basis from March but were 5.1% higher than in April 2024.
The NRF’s definition of core retail sales offers a clearer view of discretionary consumer spending patterns.
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By GlobalDataThree-month and year-to-date trends show continued retail stability
When viewed over a longer period, the figures paint a more consistent picture. Core retail sales were up 3.4% on a three-month moving average and rose 3.8% over the first four months of 2025 compared with the same period last year.
These trends indicate that, despite monthly fluctuations, retail spending has been growing steadily in the broader context.
This sustained growth is being attributed in part to favourable macroeconomic conditions.
According to the NRF’s Chief Economist Jack Kleinhenz, continued job creation, wage increases and falling energy prices have contributed to consumer confidence and spending resilience, even in the face of economic uncertainty caused by rising tariffs on imports.
Independent retail monitor reports higher monthly core growth
Separate data released by the CNBC/NRF Retail Monitor, powered by Affinity Solutions, offered a more optimistic view of April’s retail performance.
According to that report, core retail sales grew by 0.9% month over month and by 7.11% year over year, significantly higher than the figures reported by the Census Bureau.
In comparison, March had seen increases of 0.4% monthly and 5.07% annually under the same measure.
These disparities highlight the variation in retail measurement methodologies but reinforce the central theme that consumer spending remains firm despite inflationary pressures and tariff-related uncertainties.
As policymakers and economists continue to monitor consumer behaviour closely, retail sales figures will remain a key indicator of US economic resilience.
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