Latest reading: Retail sales increased 0.2% in month-on-month seasonally adjusted terms in May, which was a deterioration from April’s 0.8%...
Retail Sales in United States
The American economy recorded an average growth rate of 4.2% in retail sales over the decade to 2024, below Major Economies's average of 4.2%. In 2024, the United States's retail sales growth was 2.6%.
United States Retail Chart
Note: This chart displays Retail Sales (ann. var. %) for United States from 2014 to 2024.
Source: Macrobond.
United States Retail Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Retail Sales (ann. var. %) | 0.7 | 18.1 | 9.1 | 3.5 | 2.6 |
Retail sales contract at sharpest pace since March 2023 in May
Latest reading: Retail sales dropped 0.9% month-on-month in seasonally adjusted terms in May (April: -0.1% mom), a larger fall than markets were expecting. The figure marked the worst reading since March 2023, and was due to contractions across a range of subsectors. On an annual basis, retail sales rose at a more moderate pace of 3.3% in May (April: +5.0% yoy), the worst result since October 2024. Meanwhile, annual average growth of retail sales was 3.5% in May, mirroring April's result.
Panelist insight: Commenting on recent developments, TD Economics’ Ksenia Bushmeneva said: “A flurry of activity in anticipation of tariffs boosted consumer spending earlier this year, but that momentum is now looking to have run its course, with retail sales declining in both April and May. Car sales came back to earth in May, following outsized gains in the prior two months as consumers rushed to replace their vehicles ahead of the tariffs. The same is also true for purchases of building materials, electronics and appliances. Consumers have shown more caution recently, with saving rate moving higher in April - potentially signalling rising precautionary savings.”
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects American retail projections for the next ten years from a panel of 4 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable retail forecast available for American retail.
Download one of our sample reports to visualize what a Consensus Forecast is and see our American retail projections.
Want to get access to the full dataset of American retail forecasts? Send an email to info@focus-economics.com.
Latest Global Retail News
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Spain: Retail sales growth ebbs in May -
Luxembourg: Retail sales deteriorates in May Latest reading: Retail sales dropped 0.1% month-on-month in seasonally adjusted terms in May (April: +0.9% mom). On an annual basis,... -
Poland: Retail sales growth deteriorates in May Latest reading: Retail sales increased 4.4% year on year in May (April: +7.6% yoy). Looking at the details of the... -
United Kingdom: Retail sales fall at sharpest pace since December 2023 in May Latest reading: Retail sales fell 2.7% month-on-month in seasonally adjusted terms in May (April: +1.3% mom). The outturn marked the... -
United States: Retail sales contract at sharpest pace since March 2023 in May Latest reading: Retail sales dropped 0.9% month-on-month in seasonally adjusted terms in May (April: -0.1% mom), a larger fall than... -
Indonesia: Retail sales rebound in May Latest reading: Retail sales rose 2.6% year on year in May (April: -0.3% yoy). The rebound was partly driven by... -
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