Retail Sales Off in April

Washington, DC, May 11, 2007–Retailer sales fell 0.2 percent to a seasonally adjusted $372.03 billion in April, according to a Commerce Department report.

Excluding automobiles that account for 20 percent of total retail business, sales were flat in April but that was following a 1.1 percent March increase.

Economists were expecting sales to increase 0.4 percent, and sales excluding automobiles to rise 0.4 percent.

The 0.2 percent April sales drop contrasted with a 1 percent March gain. It was the first outright drop in monthly sales since last September when they fell 0.6 percent although total sales were flat in both January and last October.

The declines were widespread in April. Building material sales plunged 2.3 percent – the biggest decline since February 2003 when they were down 5.1 percent — after rising 1 percent in March.

New-car sales were down 1 percent in April after rising 0.4 percent in March. It was the biggest drop in monthly car sales since last June when they were down 2.4 percent.