Updated: 15-Apr-21 09:55 ET
| March Retail Sales |
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| Updated: 15-Apr-21 09:55 ET |
Highlights
- March retail sales soared 9.8% m/m (Briefing.com consensus 5.3%) following an upwardly revised 2.7% decline (from -3.0%) in February.
- Excluding autos, they were up 8.4% m/m (Briefing.com consensus 4.9%) following an upwardly revised 2.5% decline (from -2.7%) in February.
Key Factors
- Motor vehicles and parts dealers sales surged 15.1% after declining 3.5% in February.
- Gasoline station sales were up 10.9% versus a 3.8% increase in February.
- Electronics and appliance store sales increased 10.5% after declining 1.9% in February.
- Building material, garden equipment, and supplies dealers sales rose 12.1% after declining 2.8% in February.
- Clothing and clothing accessories store sales jumped 18.3% after declining 5.5% in February.
- Nonstore retailer sales increased 6.0% following a 4.4% decline in February.
Big Picture
- The key takeaway from the report is that there was a clear rebound from some of the "frozen" activity in February, the arrival of stimulus checks, and pent-up demand that was plain to see in double-digit percentage gains across various discretionary spending categories like food services and drinking places (+13.4%).
| Category | MAR | FEB | JAN | DEC | NOV |
| Retail Sales | 9.8% | -2.7% | 7.7% | -1.3% | -1.3% |
| Excluding Autos | 8.4% | -2.5% | 8.4% | -2.1% | -1.2% |
| Durable goods | |||||
| Building Materials | 12.1% | -2.8% | 5.6% | -0.3% | 1.4% |
| Autos/parts | 15.1% | -3.5% | 5.0% | 1.8% | -1.6% |
| Furniture | 5.9% | -4.7% | 13.7% | -0.7% | -1.7% |
| Nondurable goods | |||||
| General Merchandise | 9.0% | -5.5% | 10.3% | -2.4% | -1.1% |
| Food | 0.7% | -0.3% | 2.1% | -1.6% | 1.5% |
| Gasoline stations | 10.9% | 3.8% | 5.9% | 7.5% | -1.7% |
| Clothing | 18.3% | -5.5% | 7.4% | 2.5% | -6.1% |
| e*retailing/non-store | 6.0% | -4.4% | 17.0% | -8.2% | -1.6% |
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