US retail sales rose 0.5% mom in April, matching market expectations and reinforcing the view that consumer demand remains resilient despite rising inflation pressures and elevated interest rates. Core readings were slightly firmer, with retail sales excluding autos rising 0.7% mom, above expectations of 0.6% mom, suggesting underlying household spending momentum remains relatively healthy.
The broader breakdown of the report also pointed to stable domestic demand conditions. Retail sales excluding gasoline increased 0.3% mom. The closely watched control group excluding both autos and gasoline rose 0.5% mom. The data suggests consumers continue spending even as higher energy prices linked to the Middle East conflict begin filtering through the broader economy.
On a longer-term basis, total retail sales for the February through April period were up 4.4% compared with the same period a year earlier.
| Indicator | Latest | Expectation |
|---|---|---|
| Headline Retail Sales (MoM) | 0.5% | 0.5% |
| Retail Sales ex-Autos (MoM) | 0.7% | 0.6% |
| Retail Sales ex-Gasoline (MoM) | 0.3% | |
| Retail Sales ex-Autos & Gasoline (MoM) | 0.5% | |
| Feb-Apr Total Sales (YoY) | 4.4% |
