Charts of the Week
Recent U.S. Retail Sales
Chart of the Week for May 18, 2018 - May 24, 2018
The Census Bureau publishes a monthly survey of merchandise sold by establishments primarily engaged in retail trade. Economists consider it an important measure of consumer spending activity. The chart above shows the monthly percentage change in U.S. Retail Sales for September 2017 through April 2018.
The change in retail sales has been variable as shown above, ranging from a high of 2.04% in September 2017 to a low of -0.15% in January 2018. April 2018 sales growth was 0.30%, led by apparel stores, gasoline stations, miscellaneous store retailers, and furniture stores. Sales were up by 4.68% on a year-over-year basis from April 2017. Economists note that consumers were impacted positively in April 2018 by the tax cuts passed in late 2017, but April's increase was impacted on the downside by cooler than normal weather. Economists also expect retail sales growth to improve with stronger labor markets and rising consumer confidence.
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