1. News
May 18, 2022

NRF reports 0.9% growth in US retail sales from March to April

Sales during the month were up in two-thirds of categories, with online sales, clothing and grocery stores leading in YoY gains.

Retail sales in the US increased by 0.9% last month seasonally adjusted from March, according to data from the National Retail Federation (NRF).

The figures, based on data from the US Census Bureau, showed that retail sales during the month increased by 8.2% year-over-year (YoY).

Retail sales in April, excluding sales at automobile dealers, gasoline stations and restaurants, rose by 6.4% unadjusted YoY from March.

Online and other non-store sales during the month grew by 2.1% seasonally adjusted from the previous month and were up by 11.3% unadjusted YoY.

The data also revealed that sales of clothing and clothing accessories were up by 0.8% seasonally adjusted from March and 11.2% unadjusted YoY.

Grocery and beverage store sales dropped by 0.2% from the previous month, but were up by 8.9% unadjusted from a year earlier.

NRF president and CEO Matthew Shay said: “April retail sales demonstrate consumer strength and willingness to spend despite persistent inflation, supply chain constraints, market volatility and global unrest.

“While consumers are facing higher prices, they are preserving their budgets by shopping smart.

“Retail businesses are also facing increased costs like higher energy bills and rents, as well as the cost of goods, transportation and wages.

“Despite already tight margins, retailers remain committed to their customers and are doing everything they can to absorb these costs to keep products affordable.

“With the Federal Reserve already raising interest rates, the Biden administration and Congress have an opportunity to provide targeted relief to American households by lifting the China tariffs, passing legislation to fix the supply chain and addressing immigration reform to ease the tight labour market.”

Last month, the NRF published data showing that US retail sales increased by 0.5% in March from the previous month and were up by 6.9% YoY.