News

Retail sales show healthy jump in April

May 30, 2018

April's retail sales were 0.4 percent higher compared to March and 2.8 percent higher compared to a year ago.

The sales data, from the National Retail Federation, does not include sales at gas stations, restaurants or auto sales.

"Retail sales growth remains solid and on track as households benefit from tax cuts even though they have faced unseasonable weather and bumpy financial markets," NRF Chief Economist Jack Kleinhenz said in a press release on the data. "The tax cuts and higher savings levels should help consumers afford the recent surge in gasoline prices. And a solid job market, recent wage gains and elevated confidence translate into ongoing spending support."