Retail Sales Drop 0.4 Percent in April; Sales Down 10.1 Percent from Last Year
U.S. consumers pulled back again in April, as retail sales dropped a seasonally adjusted 0.4 percent, the eighth decline in the past 10 months, the Commerce Department estimated Wednesday.
Retail sales were 10.1 percent lower than in April 2008, with about a third of the decline stemming from lower gasoline prices. Sales in the first four months of the year were down 10 percent compared with the same period a year ago.
Sales were mixed across types of stores in April. Excluding the 0.2 percent increase in autos, sales fell 0.5 percent.