News

US Retail Sales Experience Y-o-Y, M-o-M Growth In April: NRF

US retail sales bounced back in April, showing both month-over-month and year-over-year growth, the National Retail Federation (NRF) said. The organisation attributed this positive trend to consumers' resilience amid ongoing economic uncertainty

diamond world news service

Matthew Shay, President and CEO of NRF, commented on the rebound, stating, "Retail sales rebounded in April, reflecting consumer resilience in the face of elevated economic uncertainty. Moderating price levels, continued labour market strength, and wage gains have increased consumers' ability to spend. However, they remain cautious and concerned about the current economic environment. Retailers continue to provide competitive pricing and convenience to help cost-sensitive consumers stretch their budgets."

NRF's Chief Economist, Jack Kleinhenz, noted that consumers remained engaged in April but were still selective and price-sensitive in their purchasing habits. He expressed expectations of modest gains in spending throughout the year. Kleinhenz also highlighted that year-over-year growth had slowed, partly due to upward revisions to last year's data and early signs of tightening credit conditions and decreasing excess savings.

According to the U.S. Census Bureau, overall retail sales in April rose by 0.4% compared to March and increased by 1.6% year over year. In March, sales experienced a month-over-month decline of 0.7% but still saw a year-over-year increase of 2.4%.

NRF's calculation of retail sales, which excludes automobile dealers, gasoline stations, and restaurants to focus on core retail, indicated a 0.6% increase in April compared to March and a 2% increase year over year. In March, sales were down 0.7% month over month but up 3.4% year over year. NRF's numbers, based on a three-month moving average as of April, demonstrated a 3.7% increase year over year.

 

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet

Van Cleef & Arpels Unveils 'Fleurs d’Hawaï' Collection at Dumfries House, Celebrating Nature and Craftsmanship

Florida Couple Discovers Rare 3.36-Carat Diamond at Arkansas’ Crater of Diamonds

Fancy Colour Diamond Prices Surge 205% Since 2005, Says Natural Diamond Council

British Luxury Brand Anayah Breaks Barriers with First Female Artisans in India

De Beers' Payments to Namibia Fall Amid Diamond Market Slump