U.S. retail sales surged in March
U.S. retail sales surged in March with the headline rising 0.7% and the ex-auto gauge popping 1.1, much stronger than forecast. And these follow February gains of 0.9% (was 0.6%) and 0.6% (was -0.3%), respectively, after declines of -0.9% (was -1.1%) and -0.6% (was -0.8%). Sales excluding autos, gas, and building materials climbed 1.0% from 0.3% (was 0.1%) previously. The components were mixed. Motor vehicle sales dropped -0.7% after previously bouncing 2.5% (was 1.6%). Gas station sales increased 2.1% after rebounding 1.6% (was 0.9%). Building materials were up 0.7% from 2.3% (was 2.2%). Furniture sales dipped -0.3% after slipping -0.3% (was -1.1%) previously. Electronics sales declined -0.1.2% from 1.3% (was 1.5%). Food, beverage sales edged up 0.5% from 0.2% (was 0.1%). Health, personal care sales rose 0.4% from unchanged (was -0.3%). Clothing sales tumbled -1.6% after rising 0.2% (was -0.5%). Non-store retailers surged 2.7% from 0.2% (was -0.1%). General merchandise sales were up 1.1% from 0.6% (was 0.4%), with department store sales falling -1.1% from -0.4% (was -0.2%). Sporting goods sales dropped -1.8% after rising 0.7 (was unchanged). Miscellaneous sales jumped 2.1% from 1.0% (was 0.6%).
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