Gas Sales Push Retail Sales Higher in March

Washington, DC, April 14, 2008--Retail sales improved slightly in March, which will likely fuel the debate as to whether the economy is in recession, according to the Commerce Department.

Retail sales rose 0.2 percent in March, pushed higher by sales of gasoline. Excluding autos and gas, sales rose 0.1 percent, the Commerce Department reported Monday.

February’s revised numbers were better than expected. Sales fell a revised 0.4 percent in February, compared with an initial estimate of a 0.6 percent drop.

However sales were still trending lower as the first quarter ended, with the gain in sales in March unable to make up all the lost ground in February. Retail sales represent about half of consumer spending.

Gasoline station sales rose 1.1 percent in March after falling 0.5 percent in February.

Excluding gasoline, retail sales were flat. Over the last year, gasoline sales are up 18.9 percent.

Compared to last year, retail sales rose 2.0 percent in March.

Sales at general merchandise stores rose fell 0.6 percent. Deepartment store sales were flat in March.

Sales at building material and garden stores dropped 1.6 percent, the fourth straight monthly drop.

Sales at furniture stores fell 0.3 percent.