by Calculated Risk on 4/14/2023 08:39:00 AM

On a monthly basis, retail sales were down 1.0% from February to March (seasonally adjusted), and sales were up 2.9 percent from March 2022.

From the Census Bureau report:

Advance estimates of U.S. retail and food services sales for March 2023, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $691.7 billion, down 1.0 percent from the previous month, but up 2.9 percent above March 2022. ... The January 2023 to February 2023 percent change was revised from down 0.4 percent to down 0.2 percent.
emphasis added

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-gasoline were unchanged in March.

The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.

Retail and Food service sales, ex-gasoline, increased by 5.6% on a YoY basis.

Sales in March were below expectations, and sales in January were revised down, however, sales in February were revised up.