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

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

That supports the Federal Reserve's view that such weakness was transitory, as well as the central bank's outlook for two or three more interest-rate increases this year following a quarter-point hike in March. On a year-on-year basis, building material sales rose a sound 5.3 percent year-on-year, and the fall in March probably reflects a give back after post-hurricane rebuilding activity in earlier months, noted TD Economics in a research report. The numbers exclude automobiles, gasoline stations and restaurants. The market analysts are looking for consensus of 0.4% increase compared to a decline of 0.1% in the prior month.

The US Commerce Department's Retail Sales report for March will be published at 8.30 am ET Monday. For the first quarter, total retail sales were up 4.1% compared to the same period a year ago. "The biggest risk to spending is in market fluctuations that could affect confidence, but we expect these basic improvements in economic fundamentals to continue".

Washington, DC, April 16, 2018-Advance estimates of U.S. retail and food services sales for March 2018 were $494.6 billion, an increase of 0.6% from the previous month, and 4.5% above March 2017, according to the U.S. Census Bureau.

Clothing and clothing accessory stores were up 6.1% year-over-year but down 0.8% from February seasonally adjusted. Sales at online retailers increased 0.8 percent.

The improvement in demand went beyond a bump in auto sales, as consumers went shopping at furniture and home stores along with electronics and appliance sellers.

Health and personal care stores were up 0.4% year-over-year and up 1.4% from February seasonally adjusted.

But they fell at home and garden stores, clothing shops and sporting goods stores.

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