Retail sales inched up 0.4% in April from the prior month, exactly matching a rise in the Consumer Price Index, according to figures from the U.S. Commerce Department. It represented the first gain in retail sales since January, a positive sign amid economic fears and continued inflation. Excluding gas and auto, retail sales were up 4.3% in April vs. a year ago, adjusted for inflation.
Buoyed by the promise of new stimulus spending and the release of pent-up demand, retail posted impressive sales growth of 9.2% in January, excluding auto, gasoline, travel and lodging, according to the latest figures from MasterCard SpendingPulse. Not surprisingly, ecommerce continued to skyrocket, gaining 62% vs. January 2019.
U.S. retail sales are expected to grow 3-4% in 2017, according to the Fitch Ratings Outlook, consistent with the 3.8% retail growth Fitch predicted in 2016. See what else the outlook found, including retailers it expects to prosper and those that will be challenged in 2017.