Retail sales grew modestly fin April, but a shift in the timing of Easter appeared to be behind a slight year-over-year decline, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by the National Retail Federation (NRF).

“Consumer spending continues to drive economic growth and retail sales increases, though we see some moderation in spending as consumers continually search for value,” NRF President and CEO Matthew Shay said. “The ability to spend is supported by a growing job market and real gains in wages. Overall, inflation remains stubborn because of elevated prices for services, while inflation for goods has dropped to nearly zero. Consumers remain focused on value and price and are shifting their spending patterns where needed to make ends meet.”

Total retail sales, excluding autos and gas, were up 0.26 percent seasonally adjusted month over month but down 0.6 percent unadjusted year-over-year in April, according to the Retail Monitor. That compared with increases of 0.36 percent month-over-month and 2.72 percent year-over-year in March.

The Retail Monitor calculation of core retail sales, excluding restaurants in addition to autos and gas, was up 0.4 percent month-over-month in April and almost unchanged, down just 0.05 percent, year-over-year. That compared with increases of 0.23 percent month-over-month and 2.92 percent year-over-year in March.

The year-over-year decline appeared to be an anomaly, reflecting that Easter fell in April last year but came in March this year, and April had two fewer weekend days this year. Despite the drop, total sales were up 1.82 percent year-over-year for the first four months of the year, and core sales were up 2.31 percent.

The Retail Monitor uses actual, anonymized credit and debit card purchase data compiled by Affinity Solutions and does not need to be revised monthly or annually.

 April sales were up in five out of nine retail categories on a yearly basis, led by online sales, health and personal care stores and building and garden supply stores. Sales were up in all but one category on a monthly basis. Specifics from key sectors include:

  • Online and other non-store sales were up 1.18 percent month-over-month seasonally adjusted and up 13.88 percent year-over-year unadjusted.
  • Health and personal care stores were up 0.85 percent month-over-month seasonally adjusted and up 5.26 percent year-over-year unadjusted.
  • Building and garden supply stores were up 4.39 percent month-over-month seasonally adjusted and up 4.41 percent year-over-year unadjusted.
  • Clothing and accessories stores were up 0.46 percent month-over-month seasonally adjusted and up 2.08 percent year-over-year unadjusted.
  • General merchandise stores were up 0.26 percent month-over-month seasonally adjusted and up 0.69 percent year-over-year unadjusted.
  • Sporting goods, hobby, music, and bookstores were up 0.26 percent month-over-month seasonally adjusted but down year-over-year unadjusted.
  • Electronics and appliance stores were up 2.14 percent month-over-month seasonally adjusted but down 1.55 percent year-over-year unadjusted.
  • Furniture and home furnishings stores were up 1.67 percent month-over-month seasonally adjusted but down 3.28 percent year-over-year unadjusted.
  • Grocery and beverage stores were down 1.11 percent month-over-month seasonally adjusted and down 4.46 percent year-over-year unadjusted.

The NRF provides data on retail sales each month and forecasts annual retail sales and spending for key periods, including the holiday season each year. To learn more about the organization’s April numbers, go here.

Image courtesy 4S Designs