The Commerce Department this morning reported that U.S. retail sales in April fell 0.2% on a seasonally adjusted basis, with sales up 2% in the past year. Economists expected a 0.3% drop for the month. The drop marks the third time in 5 months that retail sales have receded.

The decline was led by a 2.8% drop in motor vehicle sales; excluding vehicle sales, retail sales would have risen 0.5% in April. The latest data indicates motor vehicle sales are down 7.3% in the past year. Meanwhile, gasoline station sales dropped 0.4%, despite rising gas prices. Excluding both vehicle sales and gasoline, April retail sales would have risen 0.6% - the biggest gain since November 2007.

Taking a look at the rest of the data, furniture store sales inched 0.1% higher in April, with sales at electronics and appliance stores rising 1.4%. Clothing store sales expanded 0.7% higher in April, with leisure goods stores and health and drug stores inching 0.4% higher, respectively. Restaurant and bar sales advanced 0.9%, while food store sales gained 0.5%. Building supply and garden stores saw the biggest monthly increase, swelling 1.9%.