The Commerce Department said overall retail sales declined 0.2 percent to a seasonally adjusted $378.1 billion, after a 0.2 percent rise in March. That was slightly more than the 0.1 percent decrease that economists surveyed by Reuters had forecast for sales in April.
WASHINGTON (Reuters) - Total sales at U.S. retailers weakened modestly in April, the government reported on Tuesday, but outside the hard-pressed auto sector they showed more resiliency than many analysts had anticipated.
The Commerce Department said overall retail sales declined 0.2 percent to a seasonally adjusted $378.1 billion, after a 0.2 percent rise in March. That was slightly more than the 0.1 percent decrease that economists surveyed by Reuters had forecast for sales in April.
But excluding autos, April sales were up 0.5 percent after a 0.4 percent March pickup - significantly better than the 0.2 percent sales increase that had been anticipated.
The Federal Reserve has cut official interest rates 3-1/4 percentage points to 2 percent since last September to shield the economy from a credit crunch sparked by the housing crisis, hoping to keep consumers from choking off spending that fuels two-thirds of U.S. economic activity.
!ADVERTISEMENT!In April, sales of building materials gained 1.9 percent, more than reversing March's 1.5 percent fall. General merchandise store sales were up 0.5 percent, well ahead of March's 0.1 percent rise.
But car dealers suffered a 2.8 percent drop in sales during April, adding to the 0.5 percent decline posted in March. Gasoline stations reported a 0.4 percent decline in April sales after a 1.6 percent rise in March.
(Reporting by Glenn Somerville, Editing by Joanne Morrison)
