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Retail Sales Fall 0.2% in April
Retail sales declined 0.2% in April, the Commerce Department said Tuesday.
The drop was led by a slump in automobile purchases, although other areas saw gains, as sales excluding autos rose 0.5%, Bloomberg reported.
The decline matched economists’ forecasts, Bloomberg said.
Purchases at auto dealerships and parts stores dropped 2.8%, the most since last June. Filling station sales also dropped, even as gasoline prices surged, falling 0.4%.
Almost all trucking operations depend on the health of retail sales because such sales involve nearly every type of cargo.
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