Retail sales in the U.S. plunged by even more than expected in the month of April, according to a report released by the Commerce Department on Friday.
The report said retail sales cratered by 16.4 percent in April after tumbling by a revised 8.3 percent in March. Economists had expected retail sales to plummet by 12.0 percent compared to the 8.7 percent slump originally reported for the previous month.
Excluding sales by motor vehicle and parts dealers, retail sales plunged by an even steeper 17.2 percent in April after falling by a revised 4.0 percent in March.
Ex-auto sales were expected to tumble by 8.6 percent compared to the 4.5 percent nosedive originally reported for the previous month.
The material has been provided by InstaForex Company – www.instaforex.com
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