by Calculated Risk on 6/18/2024 08:30:00 AM

On a monthly basis, retail sales were "virtually unchanged" from March to April (seasonally adjusted), and sales were up 3.0 percent from April 2023.

From the Census Bureau report:

Advance estimates of U.S. retail and food services sales for May 2024, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $703.1 billion, up 0.1 percent from the previous month, and up 2.3 percent above May 2023. ... The March 2024 to April 2024 percent change was revised from virtually unchanged to down 0.2 percent.
emphasis added

Click on graph for larger image.

This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).

Retail sales ex-gasoline were up 0.3% in May.

The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.

Retail and Food service sales, ex-gasoline, increased by 2.6% on a YoY basis.

The change in sales in May was below expectations, and sales in March and April were revised down.