March Retail Sales Data Smash Expectations, Rising 0.8%

shopping cart grocery store

Photo: Олександр, Flickr

UPDATE: March retail sales rose by a headline 0.8 per cent, crushing analysts expectations for a much smaller rise.Dipping into the data, retail sales less autos also grew at 0.8 per cent, and retail sales less autos and gas jumped by 0.7 per cent in March.

Retail sales growth in February was revised down only slightly, from 1.1 per cent to 1.0 per cent.

It would seem that the consumer is still going strong.

 

ORIGINAL: Retail sales data for March will be released at 8:30 AM ET.

Analysts are expecting headline growth at 0.3 per cent, after a 1.1 per cent jump in February.

Researchers polled by Bloomberg also predict that retail sales will grow 0.6 per cent without autos and 0.5 per cent without autos and gas.

A big miss on this number could indicate weakness from consumers, while strength would indicate persistence of consumer buying power.

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