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

April 14, 2022 by Forex Winner Leave a Comment

Retail Sales

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.

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