“Consumer spending continues to drive economic growth and retail sales increases, though we see some moderation in spending as consumers continually search for value.”

National Retail Federation president and CEO Matthew Shay commented on findings from the latest CNBC/NRF Retail Monitor from the NRF, which found that total retail sales, excluding automobiles and gasoline, were up 0.26 percent seasonally adjusted month-over-month but down 0.6 percent unadjusted year-over-year in April.