April retail sales growth aligned with expectations, slowing from March’s revised 1.6% gain as consumer spending moderates.
U.S. retail sales increased 0.5% month-over-month in April to $757.1 billion, matching consensus estimates but decelerating from March’s revised 1.6% gain. The Census Bureau data showed core retail sales, excluding autos and parts, rose 0.7%, also in line with forecasts.
March’s retail sales were revised downward to 1.6% from 1.7%, while sales excluding gas and autos grew 0.5% in April, slightly above the 0.4% consensus. The prior month’s figure for this metric was revised to 0.7% from 0.6%.
The report reflects a cooling in consumer demand after a strong first quarter, consistent with broader economic trends.