IE Business Daily Business news for the Inland Empire.
Retail sales rose nationwide in April, as many consumers increased their buying to avoid the high prices expected to be happen because of higher tariffs, according to the National Retail Federation.
Total retail sales, not including automobiles and gasoline, were up 0.7 percent seasonally adjusted month-month-over-month, and up 6.7 percent unadjusted year-over-year last month, according to the federation.
In March, those numbers were 0.6 percent month-over-month, and 4.75 percent year-over year.
“Despite declines in confidence caused by the economic uncertainty that has come with tariffs, consumer fundamentals remain intact, supported by low unemployment, slower-but-steady income growth and solid household finances,” said Matthew Shay, the federation’s president and chief executive officer, in the statement. “Consumers maintain their ability to spend, and have strong reasons to spend now before tariffs can drive up prices or cause shortages on store shelves.”
Total sales were up 5.1 percent year-over year for the first four months of the year, and core sales were up 5.5 percent. April sales were up in eight out of nine categories year-over-year, led by digital products, electronics and appliance stores, and grocery and beverage stores. Sales were also up in eight out nine categories month-over-month.
