US: Retail Sales Unchanged in April

Retail sales in the United States were unexpectedly flat in April as support ebbed from stimulus payments, but the coming months are likely to see an acceleration as savings reach unprecedented levels and economic activity resumes.

Moreover, the Retail Sales Control Group declined by 1.5% after rising 10.7% in March. “Total sales for February 2021 through April 2021 period were up 27.1% from the same period a year ago,” the publication further read. 

Economists polled by Reuters had expected retail sales to rise 1%.