US Retail Sales Rise by 0.5% in March as Gasoline Prices Soar

Source: Census Bureau

Retail and food services sales in the US were valued at $665.7 billion in March, an increase of 0.5% from the previous month. SPY is down -0.46%, DXY is up +0.84%.

• The surge in retail sales in March was largely attributed to higher spending due to inflationary pressures, especially gasoline, which saw an 8.9% jump.
• Excluding motor vehicles and gasoline, retail sales increased by 0.2% in March after declining by 0.1% in February.
• Compared to last year, the retail sales ticked higher by 6.9% in March.
• Total sales since January through March were up by 12.9% from the same period of last year. 
• Retail trade sales were up by a monthly 0.4% to remain 5.5% elevated from the same month last year.