US retail sales edge up 0.6% in March

April 16, 2018 2:06 PM

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US retail sales edge up 0.6% in March

Mubasher: Retail sales in the US grew in March 2018, breaking three-month straight drops.

Retail sales inched up 0.6% in the third month of 2018, against a 0.1% decrease a month earlier, data by the US Commerce Department showed on Monday.

"An Easter holiday that fell on the last weekend of the month helped to drive more traffic into stores, though a bout of bad weather last month hurt some retailers such as home centers and clothing stores," Market Watch reported.

Year-on-year, the US retail sales levelled up 4.5% during March, while they went up 4.1% for the first quarter of 2018, compared to the year-ago period.

“The somewhat improved performance in March was too late to help the first quarter, but it does set the stage for a marked pickup in real consumer spending in the second quarter,” Stephen Stanley, chief economist of Amherst Pierpont Securities, said.


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