April retail sales in the United States were flat this time around, as automotive underperformed the rest of the market. That is according to Cox Automotive’s Auto Market Weekly Summary, which is provided by the company’s Chief Economist Jonathan Smoke.
The report also noted that inflation growth slowed last month. In retail sales performance, which fell short of expectations in April, the report said consumer spending remained unchanged as opposed to the 0.4% growth that was anticipated.
“Gas stations and clothing stores experienced the largest gains, while ecommerce and sporting goods, hobby, book, and music stores saw significant declines,” read Cox Automotive’s report, adding that the auto sector underperformed the rest of the retail market, which itself was up 0.2%. However, motor vehicles and parts were down 0.8%.
“Transportation services saw another strong increase of 0.9%, but that represented a deceleration from 1.5% in March,” read Cox Automotive’s report. “Motor vehicle insurance increased 1.8% and was the cause of the transportation increase.”
As for year-over-year changes, the company noted that nominal retail sales were up by 3.0%, although that is also down from an upwardly revised 3.8% increase in March. “Adjusted for inflation, sales declined by 0.3%” — both month-over-month and YOY, they said.
