NRF Likes April Retail Momentum
The National Retail Federation reported last week that April retail industry sales excluding automobiles, gas stations, and restaurants increased 0.5 percent seasonally adjusted over March and 4.6 percent unadjusted year-over-year.
April retail sales released last by the U.S. Commerce Department, which include non-general merchandise categories such as autos, gasoline stations and restaurants, increased 0.4 percent seasonally adjusted over March and 9.3 percent unadjusted year-over-year.
"The slow road to recovery is turning into a sprint as retailers experienced a nice bounce in April," said National Retail Federation President and CEO Matt Shay. "But maintaining this sales momentum will be challenging. Until our economy begins to create jobs and reduce unemployment, the breadth and sustainability of this recovery remains uncertain."