The U.S. April retail sales data were mixed but generally weaker than expected, confirming that the second quarter is beginning on a negative growth path that will continue the recession.

April retail sales declined 0.4%, ex-autos fell 0.5%, and ex-auto and gasoline sales dropped negative 0.3% in a far worse showing than most estimates. This confirms the second quarter is starting out very weak, and supports negative forecasts for gross domestic product.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.