Ekonomické zprávy
15.04.2024

U.S. retail sales increases more than expected in March

The Commerce Department reported on Monday that sales at U.S. retailers climbed 0.7 per cent m-o-m in March, following an upwardly revised 0.9 per cent m-o-m jump (from +0.6 per cent m-o-m) in February. 

Economists had expected total sales would increase 0.3 per cent m-o-m in March.

According to the report, the March surge in total retail sales was due to increases in 8 of all 13 retail categories, led by non-store retailers (+2.7 per cent m-o-m), miscellaneous store retailers (+2.1 per cent m-o-m), and gasoline stations (+2.1 per cent m-o-m). 

Excluding auto, retail sales soared 1.1 per cent m-o-m in March after an upwardly revised 0.6 per cent gain m-o-m (from +0.3 per cent m-o-m) in the previous month, exceeding economists’ forecast of a 0.4 per cent m-o-m advance. This was the strongest increase since January 2023 (+2.6 per cent m-o-m).

In y-o-y terms, U.S. retail sales surged 4.0 per cent in March after an upwardly revised 2.1 per cent rise (from +1.5 per cent) in the previous month. This marked the fastest annual increase in retail sales in three months.

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