May 13, 2014

US retail sales up marginally in April

US retail sales inched up by less than expected in the month of April after reporting a sharp increase in the previous month, according to the Commerce Department released report

By admin-demo

US retail sales inched up by less than expected in the month of April after reporting a sharp increase in the previous month, according to the Commerce Department released report

Retail sales edged up by 0.1% in April after surging up by an upwardly revised 1.5% in March.

The modest rise in retail sales was partly due to continued growth in sales by motor vehicle and parts dealers, which rose by 0.6% in April after jumping by 3.6% in March.

Retail sales remain unchanged after excluding the increase in auto sales in April compared to a 1% increase in March.

During the month, notable increases in sales by department stores, clothing and accessories stores, and gas stations were offset by steep drops in sales by electronics and appliance stores and miscellaneous stores.

Core retail sales, which exclude autos, gasoline, and building materials, fell by 0.1% in April following an upwardly revised 1.3% jump in March.

The agency noted that the total retail sales in the month of April were up by 4% compared to the same month a year ago.