Warmer spring weather spurred continued consumer spending and activity this March, suggest finding from the National Retail Federation. March retail sales, which exclude automobiles, gas stations and restaurants, increased 0.8 percent adjusted month-to-month and 1.6 percent unadjusted year-over-year.
March retail sales, released today by the U.S. Census Bureau, which include categories such as automobiles, gasoline stations, and restaurants, increased 1.1 percent seasonally adjusted month-to-month ($433.9 billion). The Census also reported that retail sales increased 3.8 percent adjusted year-over-year.
“Improving economic conditions and consumer confidence should push consumers to return to spending habits this spring,” NRF Chief Economist Jack Kleinhenz said. “Consumers released some pent-up demand in March after two consecutive months of harsh winter weather that not only hampered employment opportunities but also retail sales. We remain optimistic that retail sales will continue their positive march this spring.”
Sporting goods, hobby, book and music stores’ sales increased 0.3 percent seasonally-adjusted month-to-month yet decreased 5.5 percent unadjusted year-over-year.
