BY THE NUMBERS
CHICAGO—April retail sales rose 0.3% over the previous month and 4.7% over the previous year according to US Census Bureau figures. “The strong year-over-year retail sales momentum continued in April, including core retail sales, which is the closest measure of the consumer spending component of GDP,” says Naveen Jaggi, president, JLL Retail. “Clearly, consumers are continuing to do their part in driving the economy forward. This momentum is despite gasoline prices rising significantly over the first four months of the year. However, gas prices will be increasingly important to monitor for retailers as we progress throughout the year, as paying more at the pump will likely cut into consumers discretionary spending capability. But, consumers have proven resilient over the past few months and lower income taxes will hopefully also take some of the sting out of higher gas prices.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
