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- U.S. retail sales increase more than forecast in March
U.S. retail sales increase more than forecast in March
The Commerce Department announced on Thursday the sales at U.S.
retailers surged 1.6 percent m-o-m in March, following an unrevised 0.2 percent
m-o-m drop in February, boosted by sales of motor vehicles and a range of other
goods. That was the biggest increase in retail trade since September 2017.
Economists had expected total sales would increase 0.9 percent m-o-m in
March.
Excluding auto, retail sales increased 1.2 percent m-o-m in March after
a revised 0.2 percent m-o-m drop in the previous month (originally a decline of
0.4 percent m-o-m), exciding economists’ forecast for a 0.7 percent m-o-m
advance.
Meanwhile, closely watched core retail sales, which exclude automobiles,
gasoline, building materials and food services, and are used in GDP
calculations, rose 1.0 percent m-o-m in March after a downwardly revised 0.3
percent m-o-m decline in February (originally a 0.2 percent m-o-m decrease).
In y-o-y terms, the U.S. retail sales climbed 3.6 percent in March, accelerating
from 2.2 percent the previous month.
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