Retail Sales Rise in March

Washington, DC, April 13, 2011 -- U.S. retail sales increased 0.4% in March to a seasonally adjusted $396.3 billion, the Commerce Department estimated Wednesday.

This is the ninth straight increase in retail sales but the smallest gain since the string that began in July.

Sales rose an upwardly revised 1.1% in February.

Much of the March sales gain came from higher gasoline prices. Excluding gasoline, retail sales rose 0.1% in March.

In a separate report, March retail sales, excluding automobiles, gas stations, and restaurants, increased 0.6% seasonally adjusted from February and 3.9% unadjusted year-over-year, according to the National Retail Federation.
 
“Shoppers last month were eager to take advantage of retailers’ spring promotions on everything from apparel to outdoor furniture,” said NRF President and CEO Matthew Shay.

“While current indicators point to a more confident consumer, increasing gas prices and a cramped job market could hamper consumer spending during the upcoming summer months, a key time of year for retailers.”
 
Furniture and home furnishing stores sales increased 3.6% seasonally adjusted month-to-month and 3.8% unadjusted year-over-year.