Updated: 16-Apr-18 09:26 ET
| March Retail Sales |
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| Updated: 16-Apr-18 09:26 ET |
Highlights
- Total retail sales increased 0.6% (Briefing.com consensus +0.4%) on the heels of a 0.1% decline in February.
- Excluding autos, retail sales jumped 0.2%, as expected, following a 0.2% increase in February.
Key Factors
- Motor vehicle sales (+2.0%) led the overall advance along with heath and personal care stores (+1.4%) and nonstore retailers (+0.8%).
- The weak spots in March were sporting goods (-1.8%), clothing and clothing accessories (-0.8%), building materials (-0.6%), and gasoline station sales (-0.3%).
- Core retail sales, which exclude auto, building materials, gasoline station, and food service and drinking places sales, were up 0.4%. That reading factors in to the goods component of the GDP report, so it will be a positive input for economists making first quarter GDP forecasts.
Big Picture
- The key takeaway from the report is that March stopped a streak of three consecutive monthly declines in retail sales, although it also demonstrates that consumers continue to show some restraint in discretionary spending.
| Category | MAR | FEB | JAN | DEC | NOV |
| Retail Sales | 0.6% | -0.1% | -0.2% | -0.1% | 0.8% |
| Excluding Autos | 0.2% | 0.2% | 0.1% | 0.0% | 1.2% |
| Durable goods | |||||
| Building Materials | -0.6% | 2.0% | -1.8% | 1.0% | 0.0% |
| Autos/parts | 2.0% | -1.3% | -0.9% | -0.2% | -1.0% |
| Furniture | 0.7% | 0.4% | -0.3% | -1.2% | 0.5% |
| Nondurable goods | |||||
| General Merchandise | 0.3% | -0.4% | 0.2% | -0.3% | 0.5% |
| Food | 0.2% | 0.2% | -0.1% | 0.3% | 0.3% |
| Gasoline stations | -0.3% | 0.1% | 2.0% | 0.1% | 3.4% |
| Clothing | -0.8% | 0.2% | 1.0% | -1.1% | 0.6% |
| e*retailing/non-store | 0.8% | 0.9% | -0.9% | 0.5% | 3.9% |
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