Retail Sales for the month of April were released earlier today and came in weaker than expected across the board. If there was a bright spot in the report it was that March’s report was revised higher. Of the fourteen sectors that comprise total sales, seven saw declines, one was unchanged, and five saw m/m growth. In the chart below, we show the number of consecutive months that each sector has shown growth or declines. While more sectors saw m/m declines in sales growth than gains in April, none of them have seen back to back declines. On the positive side, Bars & Restaurants (where millennials tend to spend) has seen sales growth for four straight months, while Gas Stations is rising a streak of three straight months of gains. Given the fact that prices at the pump just recently came off of a record streak without declines, that shouldn’t come as too much of a surprise either.
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