U.S Retail Sales Stagnates in April after 10.7% Jump in March

U.S retail sales for April 2021 stood at $619.9 billion, little changed from March, according to the Census Bureau press release. The stalled retail sales in April reflect fading boosts from stimulus checks which caused a 10.7% surge in the previous month.

• April’s retail sales were 51.2% higher than the comparable month of 2020
• February-April sales were up 27.1% from the comparable period of last year
• Retail sales at clothing and clothing accessories stores gained 726.8% from April 2020
• Food and drinking places sales jumped 116.8% from April last year
• Consumer spending jumped at a 10.7% annualized rate in Q1, up 7.02 percentage points

U.S stocks are currently gaining as the dollar loses. SPY is up 0.66% on premarket, QQQ is up 1.03% on premarket, EURUSD is up 0.38%