U.S. Retail Sales Fell 16.4% in April
Analysts predicted that the retail industry would take a serious hit from the coronavirus pandemic, but the results were even worse than anticipated. U.S. retail sales fell 16.4% in April, a much bigger drop than the 12.3% predicted. Only grocers escaped the general carnage. The data raises the specter of economic collapse.
The retail industry, particularly brick and mortar stores, already had been in a state of peril, and the coronavirus measures have only added to the misery.