Retail sales plummet to record lows in April

Commerce reported that total April retail sales—at $403.9 billion—fell 16.4% sequentially, and 21.6% annually, following March’s $483.5 billion tally, which marked an 8.3% annual decline. This two-month stretch marks the largest decline for two consecutive months on record, with each month setting new records for lowest monthly sales. What’s more, it outdid the 18.5% decline recorded in May 1938 and the 15.1% annual decline in February 1981.
Source: logistics Mgmt