Retail sales in April plummet a record 16.4 percent


Retail sales in April amid the coronavirus pandemic took a massive, record dive.
A report released by the Commerce Department on Friday showed retail sales plummeted 16.4 percent in April, more than the 12.3 percent decline economists were expecting and significantly worse than March's 8.3 percent drop, according to CNBC.
This is the steepest decline in retail sales on record since the data started being tracked in 1992, with the previous record being March's drop. Clothing stores, electronics stores, furniture stores, and restaurants were hit especially hard in April, according to The Associated Press, although online sales were up 8.4 percent.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
This comes after data from the Labor Department released on Thursday showed more than 36 million Americans have filed initial unemployment claims over the course of eight weeks during the crisis, and economists at Goldman Sachs have projected the U.S. unemployment rate, which in April rose to 14.7 percent, will ultimately peak at 25 percent, on par with the Great Depression.
As stay-at-home restrictions now begin to ease around the country, The New York Times reports experts are anticipating that spending will rise in May, although the Times notes that "any rebound is likely to be gradual."
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.
-
June 25 editorial cartoons
Cartoons Wednesday's cartoons include war on a loop, the New York City mayoral race, and one almighty F-bomb
-
How generative AI is changing the way we write and speak
In The Spotlight ChatGPT and other large language model tools are quietly influencing which words we use
-
How long can Nato keep Donald Trump happy?
Today's Big Question Military alliance pulls out all the stops to woo US president on his peacemaker victory lap
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores