U.S. - retail in March fell the most in nine months, beating market forecasts
Retail sales in the U.S. unexpectedly fell in March by 0.4% compared to February's increase of 1% compared to the expected market stagnation. The March decline was the largest in the last 9 months. A significant decrease was recorded supermarkets and electronics stores. The report could reduce the positive-minded expectations for the development of consumer spending for Q1 and thus also for the overall development of the economy, because consumers are in the U.S. as its main engine.
Estimates of the overall market ranged from -0.6 to +0.7%. The decline recorded seven of the 13 sectors tracked in the head with a decrease in sales of 1.2% in supermarkets and a decrease of 1.6% for electronics retailers. Sales of automobiles and parts declined by 0.6% compared to February's increase of 1.3%. According to statistics, car sales in March, the pace slowed slightly to 15.2 million units in annual terms, compared to 15.3 million in February.Yet the average for Q1 the highest since 2008. The average price of gasoline in March fell by 13 cents to $ 3.63 per gallon. Sales at gas stations fell by 2.2%.
Retail sales excluding the automotive sector fell by 0.4%, while the market had expected only a slight change.
Retail sales of goods crediting the balance GDP declined by 0.2% compared to February's growth of 0.3%.
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