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Timely insights from the Economy, Strategy & Finance Center
Broad-based weakening in retail sales in April followed an upwardly revised increase to an already solid rise in March, suggesting consumers pulled purchases forward ahead of widely anticipated tariff-driven price increases.
Figure 1. Retail Sales Lull after March Jump
Sources: Census Bureau, Haver Analytics, The Conference Board, 2025
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Note: Due to the US federal government shutdown, all further releases for The Conference Board Employment Trends Index™ (ETI), The Conference Board-Lightcast Help Wanted OnLine® Index (HWOL Index), The Conference Board Leading Economic Index® of the US (US LEI) and The Conference Board Global Leading Economic Index® (Global LEI) data may be delayed. TCB will resume publication once updated US federal government data are released.
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