Core retail sales increased at a 6.2 percent annual rate in April, after rising only 0.7 percent in March (revised from an initial report of a decline of a 1.8 percent annual change). The outcome in April was above the consensus of many private forecasters, which called for a decline in sales (not shown).

Over the past three months, core retail sales have risen at a 4.2 percent annualized pace. Total retail sales increased at an annual rate of 3.1 percent over the same three-month period.

U.S. Retail Sales Components, February to April 2013, annualized percent change, SA

Additional detail:

  • Declines in gasoline prices have dragged down the increase in retail sales over the past three months. Excluding purchases at gasoline stations, retail sales rose 8.3 percent during the three-month period ending in April.
  • Retail sales are adjusted for seasonal variation, holidays, and the number of days in a month, but not inflation.