U.S. retail sales fell 0.1% in April due in part to lower prices for gasoline, the Commerce Department reported Wednesday.
Sales fell to $309.5 billion, which followed a revised 2.3% increase in March, Commerce said. Excluding automobiles, sales dropped 0.9%, the biggest decrease since the 9/11 terrorist attacks.
Analysts attributed the curbed spending to higher unemployment, Bloomberg reported.
Retail sales are a good indicator of future demand for trucking services. As stores empty their shelves, companies make more orders to factories, possibly increasing freight shipments.
Falling prices at gasoline pumps caused a 5.9% decline in receipts at service stations during the month, Commerce said. Excluding gasoline, total retail sales rose 0.4%.
Bloomberg said the drop in energy prices is one reason economists are not abandoning forecasts of a strengthening of spending in the second half of the year.
Sales of vehicles and parts did increase 2.5% last month, but Bloomberg noted automakers are propping up sales by increasing discounts and incentives.
Economists had expected retail sales to rise 0.4% after March's previously reported 2.1% increase, Reuters said. Sales excluding automobiles were expected to rise 0.2%.
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