Jun 23, 2025
Retail sales rose less than expected in April at 0.3% (+5% Y/Y), supported by a 0.5% increase in sales volumes.
Though six of nine categories showed positive growth, vehicle sales were the main driver - up nearly 2%, with ex-auto retail trade at -0.3% versus expectations of 0.2%
That looks set to reverse course in May, with early data suggesting a sequential decline in retail trade of more than 1% as the impact of tariffs starts to bleed through.
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