Retail Sales Post Surprising Gain

Retail sales jumped an unexpected 0.2% in March, topping the consensus forecast of 0.1%. Sales in February were also revised up to -0.4% from -0.6%. The gains were led, however, by a 1.1% spike in retail gasoline purchases, which far exceeded the 0.2% forcecasted for the measure. Excluding auto and gasolien sales, core retail sales posted only a 0.1% gain which, though anemic, still beat expectations.

 

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