Sales gains for NAICS 444
Advance estimates of U.S. retail and food services sales for April 2024, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $705.2 billion, virtually unchanged from the previous month, but up 3.0 percent above April 2023.
For NAICS 444 — the overarching industry category of building material and garden equipment and supplies dealers — adjusted and unadjusted figures rose.
On an unadjusted basis, NAICS 444 sales for April were $45.193 billion, up 16.8 percent from March, and up 4.5 percent from the same month last year.
On an adjusted basis, month-to-month sales were up a mere 0.5 percent.
Against the backdrop of modest sales gains across the retail industry, the National Retail Federation described the consumer as cautious.
”Consumer spending continues to drive economic growth and retail sales increases, though we see some moderation in spending as consumers continually search for value,” NRF President and CEO Matthew Shay said. “The ability to spend is supported by a growing job market and real gains in wages. Overall inflation remains stubborn because of elevated prices for services, while inflation for goods has dropped to nearly zero. Consumers remain focused on value and price and are shifting their spending patterns where needed to make ends meet.”
