by Bill McBride on 4/14/2014 08:48:00 AM
Monday, April 14, 2014
On a monthly basis, retail sales increased 1.1% from February to March (seasonally adjusted), and sales were up 3.8% from March 2013. Sales in February were revised up from a 0.3% increase to a 0.7% increase. From the Census Bureau report:
The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for March, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $433.9 billion, an increase of 1.1 percent from the previous month, and 3.8 percent above March 2013. ... The January 2014 to February 2014 percent change was revised from +0.3 percent to +0.7 percent
Click on graph for larger image.
This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).
Retail sales ex-autos increased 0.7%.
The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.
Retail sales ex-gasoline increased by 4.6% on a YoY basis (3.8% for all retail sales).
The increase in March was above consensus expectations and this was a strong report.
Posted by Bill McBride on 4/14/2014 08:48:00 AM