US DATA: March retail sales +0.8% overall, +0.8% ex auto, and +0.7%
ex auto and gas, all showing strength. March sales were pretty much
strong across the board, with only healthcare -0.2%. Other areas gained,
some showing large advances perhaps related to mild weather. Autos
posted +0.9%, furniture +1.1%, electronics +1.0%, bldg materials +3.0%
(early spring?), food +0.4%, gas +1.1% (price related?), clothing +0.9%,
sporting goods +0.5%, restaurants +0.3%. Core sales were +0.47%. Jan &
Feb ex auto sales were revised higher, another sign of strength. Q1 ex
auto sales stand about 8% better than Q4 sales, so Q1 maintains
momentum.