April retail sales show people continuing to cut back on their discretionary spending. According to the National Retail Federation, retail industry sales for April (which exclude automobiles, gas stations, and restaurants) decreased 0.4 percent seasonally adjusted from March and dropped 1.7 percent unadjusted over last year.
April retail sales released last week by the U.S. Commerce Department show total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) decreased 0.4 percent seasonally adjusted over March and decreased 9.4 percent unadjusted year-over-year.
“A depressed labor market and lack of consumer confidence continues to play a role in what people buy and how much they spend,” said Rosalind Wells, chief economist for NRF. “Noticeable changes in consumer spending will take some time as the economy continues to rebuild itself through the rest of the year.”
-- Sarah
April was wishy washy as for our sales:
So far May has been good.
More folkds paying with credit cards now than over the winter.
Economy may have bottomed out but the uptick is still down the road
Greg Draiss
Posted by: greg draiss | May 20, 2009 at 07:25 AM