U.S. Retail Sales Dip 0.2% In March Amid Lower Auto Sales

Partly reflecting a notable decrease in auto sales, the Commerce Department released a report on Friday showing a modest drop in U.S. retail sales in the month of March.

The Commerce Department said retail sales dipped by 0.2 percent in March after a revised 0.3 percent decline in February.

Economists had expected sales to edge down by 0.1 percent compared to the 0.1 percent uptick originally reported for the previous month.

The decrease in retail sales came as sales by motor vehicle and parts dealers slumped by 1.2 percent in March tumbling by 1.5 percent in February.

Excluding auto sales, retail sales came in unchanged for the second consecutive month. Ex-auto sales had been expected to rise by 0.2 percent.

The report showed notable growth in sales by electronic and appliance stores, miscellaneous store retailers and clothing and accessories stores.

However, the increases were offset by significant declines in sales by building material and supplies dealers and gas stations.

Closely watched core retail sales, which exclude autos, gasoline, building materials and food service, climbed by 0.5 percent in March after slipping by 0.2 percent in February.

The Commerce Department said total retail sales in March were up by 5.2 percent compared to the same month a year ago.

by RTT Staff Writer

For comments and feedback: This email address is being protected from spambots. You need JavaScript enabled to view it.

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

The ADP Regional Employment Report - November 2017

Latest Spot Rate

Wait a minute, while we are rendering the calendar
How It Works | About | Contact | Privacy Policy | Advertise
© 2009 - 2019 ChatPips. All Rights Reserved. Risk Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.