–Ex Auto & Gas +0.7%; Autos-Parts +0.9%, Gasoline +1.1%
By Joseph Plocek
WASHINGTON (MNI) – U.S. March retail sales printed +0.8% overall,
+0.8% ex auto, and +0.7% ex auto and gas, all showing strength.
March sales were pretty much good across the board, with only
healthcare at -0.2%, and that drop reflected severe seasonal adjustment
since unadjusted sales rose. Other areas gained to varying degrees, some
showing large advances perhaps related to mild weather.
Autos posted +0.9%, furniture +1.1%, electronics +1.0%, building
materials +3.0%, food +0.4%, and gas +1.1%. Clothing was +0.9%, sporting
goods +0.5%, and restaurants +0.3%. Core sales were +0.47%.
The gain in gasoline was probably price-related. The advance in
building materials might reflect the early spring, and was the biggest
since +3.2% in December. Even the gain in electronics, an area that
takes pauses when consumers wait for new products, was the biggest since
October.
Non-store sales printed +0.7% as Internet and mail-order shopping
continued to gain.
January and February ex-auto sales levels were revised slightly
higher, another sign of strength. Overall sales were revised to +1.0% in
February (was +1.1%) and +0.7% in January (was +0.6%). Overall sales are
up 6.5% over the year.
For Q1 ex-auto sales stand about 8% better than Q4 sales, so Q1
maintains momentum. This means that real GDP estimates in the 2%-3% area
should be on target.
**MNI Washington Bureau: (202)371-2121**
[TOPICS: MAUDS$,M$U$$$,MT$$$$,MAUDR$]