Retail sales in the US sank 16.4 percent from a month earlier in April of 2020, worse than forecasts of a 12 percent drop. It is the sharpest decrease in retail sales ever due to the coronavirus pandemic which forced Americans to stay at home and many businesses to close. Biggest declines were seen in sales of clothing and accessories (-78.8 percent), electronics and appliances (-60.6 percent) and furniture (-58.7 percent). Sales at gasoline stations decreased 28.8 percent after oil prices turned negative for the first time ever in April. Other decreases were also seen in food and beverage stores (-13.1 percent) and food services and drinking places (-29.5 percent). Excluding automobiles, gasoline, building materials and food services, retail sales tumbled 15.3 percent. Year-on-year, retail sales went down 21.6 percent, also a record drop.
Retail Sales MoM in the United States averaged 0.28 percent from 1992 until 2020, reaching an all time high of 6.70 percent in October of 2001 and a record low of -16.40 percent in April of 2020. This page provides - U.S. December Retail Sales Increased More Than Forecast - actual values, historical data, forecast, chart, statistics, economic calendar and news. U.S. Retail Sales - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: U.S. Census Bureau
Retail Sales MoM in the United States is expected to be -0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales MoM in the United States to stand at 1.70 in 12 months time. In the long-term, the U.S. Retail Sales is projected to trend around 2.40 percent in 2021 and 0.40 percent in 2022, according to our econometric models.