Keeping you up to date on the latest data releases.
- Retail Sales
Total retail sales increased at a nonannualized rate of 1.1 percent in March. Year-over-year retail sales are up 3.8 percent, their strongest reading since November 2013. The strength in March is attributed to a substantial upward revision to February’s reading, up to 0.7 from 0.3 percent. Excluding autos, retail sales were up 0.7 percent and 2.6 percent year-over-year in March. Contributing to the monthly gains in total sales were motor vehicle and parts (up 3.1 percent), general merchandisers (up 1.9 percent), building materials (up 1.8 percent), and non-store retailers (up 1.7 percent). Sectors that saw the largest declines in March were electronics and appliances (down 1.6 percent) and gasoline stations (down 1.3 percent). A less volatile indicator of sales growth, “core” retail sales (which excludes sales of autos, building supplies, and gas stations) increased 1.0 percent in March, while year-over-year core retail sales are up 3.5 percent.