US retail sales dropped a record -16.4% mom in April to USD 403.9B, worse than expectation of -10.0% mom. That’s also nearly double the -8.3% drop in March, which was the prior worst reading since 1992.
Ex-auto sales dropped -17.2% mom, much worse than expectation of -8.6% mom. Ex-gasoline sales dropped -15.5% mom. Ex-auto, ex-gasoline sales dropped -16.2% mom.
