Census Bureau: Retail Sales Steady in April, Despite Tariff Concerns.

Fears of a contracting economy and tariffs on imported merchandise have apparently not stopped consumers from opening their pocketbooks.

According to data released Thursday by the U.S. Census Bureau, shoppers continued to spend in April, according to National Retail Federation Chief Economist Jack Kleinhenz.

“Consumers are still spending despite widespread pessimism fueled by rising tariffs,” Kleinhenz says in a news release. “While tariffs may have weighed on spending decisions, growth is coming at a moderate pace and consumer spending remains steady, reflecting a resilient economy. The momentum and willingness to spend is being supported by positive data on jobs and wages along with lower energy prices.”

April retail sales were basically flat, showing a modest gain of 0.1% seasonally adjusted on a month-over-month basis, and up 5.2% unadjusted year-over-year, the Census Bureau reported. Those figures compared with hikes of 1.7% MoM and 5.2% YoY in March.

April’s core retail sales as defined by NRF — based on the Census data but excluding auto dealers, gas stations and restaurants — were down 0.1% seasonally adjusted MoM but up 5.1% unadjusted YoY. Core sales were up 3.4% YoY on a three-month moving average and climbed 3.8% for the first four months of the year.

Last week, the CNBC/NRF Retail Monitor reported that core retail sales rose 0.9% seasonally adjusted MoM April and 7.11% unadjusted YoY vs. increases of 0.4% MoM and 5.07% YoY in March.