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An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	US retail sales plunged by 16.4 percent in April as the coronavirus pandemic forced businesses to shut down across the world's largest economy, the Commerce Department said Friday. The drop was the largest recorded in the history of the survey and much worse than expected, with massive contractions reported in an array of retailers, including clothing, furniture, electronics and appliances and food and drinking places, all of which declined by double-digits. The index had sunk in March by an upwardly revised 8.3 percent, but April's survey was the first to reflect a full month of lockdowns imposed to stem the spread of the virus. The seasonally adjusted $403.9 billion in sales in April reversed years of growth and brought the index back to the level reached in August 2012. The CEO of the National Retail Federation, Matthew Shay, called the data "not a surprise given the current state of affairs" and predicted a rebound. "Prior to this pandemic, retail was setting records in year-over-year growth, employment and investment. It is a resilient industry serving a smart consumer, and despite today's report, we know it will be leading our nation's economic recovery as this crisis recedes," he said in a statement. Yet the damage was deep and the worst performers were businesses centered on getting people to visit stores and shopping malls, though e-commerce and grocery businesses showed signs of growth. Clothing stores dropped 78.8 percent compared to March, electronic and appliances stores by 60.6 percent and furniture stores by 58.7 percent. Gas station sales dropped 28.8 percent as oil prices remained low. However, non-store retailers, such as those doing business online, grew month-on-month by 8.4 percent, while food and beverage stores declined compared to March but posted growth of 12 percent compared to April of last year, aided by the closure of restaurants. cs/dw
schema:headline	US retail sales plunge 16.4% in April amid virus closures
schema:mentions	National Retail Federation E-commerce Chief executive officer Pandemic Virus Severe acute respiratory syndrome coronavirus 2 Shay locomotive The Drop (film) Data warehouse United States Department of Commerce
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-05-15 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	62 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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