US retail sales for March
- retail sales are stronger than expected at 1.6% versus 1.0% estimate. Prior month -0.2% (unrevised). Largest increases since September 2017
- retail sales ex auto 1.2% vs 0.7 estimate. Prior month revised 2-0.2 from -0.4% previously
- Ex auto and gas 0.9% versus 0.4% estimate. Prime wants revised 2-0.7% from -0.6%
- retail sales control group 1.0% versus 0.4%. Prior month revised to -0.3% from -0.2%
- gasoline sales +3.5% versus February was 3.5%
- cars/parts +3.1% versus February -0.1%
The retail sales surprised to the downside in December. Lots of economists were perplexed by the absence of Christmas. This month is a payback to the weaker data. The GDP estimates should move higher.
