Pandemic Hits Spending Hard; 79% Dive In Clothing Sales Leads A Record Plunge
Retail sales saw record drops for the second month in a row. Other categories with huge declines included a 59% dive in furniture sales and 29% decreases in department stores and gas stations.
Updated at 9:31 a.m. ET
In a historic collapse, retail spending in the United States nosedived again last month, dropping a record 16.4% as people avoided restaurants, bars, stores and malls during the coronavirus pandemic.
The devastation spread across virtually all sectors, hitting clothing and furniture stores, restaurants and gas stations. April's plunge nearly doubled the record drop of 8.3%.
