March Retail Sales Up 0.7%

Washington, DC, April 16, 2007--Retail sales in March rose 0.7% in March, according to a Commerce Deportment report. The increase was led by spending on gasoline, the result of increasing prices, building materials and clothing.

Sales in February were revised up to reflect an increase of 0.5%, they were originally estimated to have increased 0.1%.

The increase in March was the largest since a 1.1% jump in December.

Economists were anticipating an increase of 0.6% during the month.

Sales at gasoline station sales rose 3.1% in March, Excluding gasoline, retail sales rose 0.4%.

Motor vehicle sales rose 0.4%. Excluding autos, retail sales rose 0.8%, slightly lower than the 1% gain expected.