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Photo: Alexi Rosenfeld/Getty Images

U.S. retail sales fell 16.4% in April, even worse than the previous record fall set in March, as consumers pulled back on spending during the coronavirus economic lockdown.

Why it matters: It's another indication of how the pandemic is curtailing consumer spending, which is the main driver of the U.S. economy, as people stay home and a record number of Americans are out out work.

By the numbers: The report, which reflects a full month of state-mandated closures for businesses, is worse than the 12.3% monthly drop economists expected.

  • Strip out car sales, and April's retail figures come in at an even worse 17.2%.

Details: Except for online retailers, all retail categories — including auto dealers, furniture shops and clothing stores — suffered declines that would have been unfathomable before the coronavirus.

  • Clothing store sales collapsed 79% from March, and 89% from a year ago.
  • Food and beverage stores, a group that includes grocery stores, fell 13.1% from last month's big boost, when Americans raced to fill their pantries. That's an indication that the panic-buying has eased.
  • Yes, but: Looking at how the category did versus this time last year, it's one of the few that is faring better now in a pandemic environment. Sales are up 12% from last year.

Go deeper

Existing U.S. home sales reached another record high last month

In July, Anil Lilly tours his new home, in Washingtonville, N.Y. Photo: John Minchillo/AP

Existing-home sales jumped by 24.7% in July, the National Association of Realtors reported Saturday.

Why it matters: July's surge beats last month's record as the largest recorded monthly increase in previously owned home sales since 1968, when NAR began collecting data.

34 mins ago - Technology

Scoop: Google won't donate to members of Congress who voted against election results

Sen. Ted Cruz led the group of Republicans who opposed certifying the results. Photo: Stefani Reynolds/Pool/AFP via Getty Images

Google will not make contributions from its political action committee this cycle to any member of Congress who voted against certifying the results of the presidential election, following the deadly Capitol riot.

Why it matters: Several major businesses paused or pulled political donations following the events of Jan. 6, when pro-Trump rioters, riled up by former President Trump, stormed the Capitol on the day it was to certify the election results.

Minority Mitch still setting Senate agenda

Illustration: Aïda Amer/Axios

Chuck Schumer may be majority leader, yet in many ways, Mitch McConnell is still running the Senate show — and his counterpart is about done with it.

Why it matters: McConnell rolled over Democrats unapologetically, and kept tight control over his fellow Republicans, while in the majority. But he's showing equal skill as minority leader, using political jiujitsu to convert a perceived weakness into strength.