- US retail sales unexpectedly falls by 0.2% in April
- A Reuters poll among economists earlier predicted a rise of 0.2%
- If the same trend persists in May the US could have two consecutive quarters of shrinking consumer sales
There was an unexpected drop in U.S. retail sales last month, with households buying fewer cars as well as a number of other products.
If this persists for another month, the US could have another quarter with slowing consumer spending after it already fell in Q1.
According to the Commerce Department retails sales slumped by 0.2% in April. A Reuters poll among economists earlier predicted that retail sales would increase 0.2% in April on a monthly basis.