IMGCAP(1)]
Estimated retail sales for April decreased 11.4%, to $299.5 billion from $338 billion during the same month last year, the U.S. Census Bureau announced yesterday. Retail sales for April fell 43 basis points from $300.8 billion during the previous month, according to the Census Bureau's Advance Monthly Retail and Food Services Survey, which provides an early estimate of monthly sales for U.S. retail and food-service firms. Each month, the bureau mails questionnaires to approximately 5,000 companies. Despite the drop in estimated retail sales, consumer confidence continues to grow, as the percentage of consumers who said they believe the economy is improving continued its upward trajectory last month following a record low in February, according to survey data from Discover Financial Services (CardLine, 5/6).
