14 April 2008, 17:57  US March retail sales rose 0.2 pct, up 0.1 pct excluding autos

March retail sales were better than expected, due in part to increased auto sales, but also sales of food and gas, which have increased in recent months because of surging prices. The Commerce Department said March retail sales increased 0.2 pct, while economists polled by Thomson's IFR Markets were expecting sales to be unchanged. Sales of motor vehicles and parts increased 0.2 pct. Food and beverage sales increased 0.4 pct and gasoline rose 1.1 pct. Another large increase, of 2.1 pct, was seen in the category of nonstore retailers. Excluding gas stations, sales were unchanged as were sales excluding both autos and gasoline. Sales increases in the highly volatile categories of food, gasoline and autos, managed to offset declines in building materials, furniture and other housing-related items. Building materials plunged 1.6 pct, the largest decline since December, while furniture and home furnishings fell 0.3 pct in the month. Electronics fell 0.4 pct, the largest decline since December. Health and personal care stores saw sales fall 0.1 pct, the largest decline since October. General merchandise stores, including discounters such as Target and Wal-Mart, posted a 0.6 pct decline in March, the largest fall since April. The Commerce Department upwardly revised February retail sales number to a 0.4 pct fall.

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