US Retail Sales Climb More Than Expected On Rebound In Auto Sales

Galtero Lara
Abril 16, 2018

There were $494.6 billion in retail and food service sales in March, up 0.6% from the previous month and 4.5% from March 2017, according to the U.S. Census Bureau. Gasoline Stations were up 9.7% from March 2017, while Nonstore Retailers were up 9.7% from previous year.

Retail trade sales were up 0.6% from February 2018, and 4.7% above a year ago.

March furniture and home furnishings stores sales increased 3.9% from the same month a year ago, trailing the 4.7% growth for the broad retail sector, the government reported Monday. The January 2018 to February 2018 percent change was unrevised from down 0.1%.

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Sales by non-store retailers and furniture and home furnishing stores also saw notable growth, although the increases were partly offset by a steep drop in sales by sporting goods, hobby, book and music stores.

"Overall, consumer spending has been disappointing in 1Q18, which is partially weather-related, but today's report suggests the slowdown was transitory", said James Knightley, Chief International Economist at ING. Year-over-year core sales increased 4.5%.

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