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US Retail Sales Growth Cools in March

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Monthly retail sales in the United States continued to grow in March, albeit at a slower pace, as auto sales declined during the period.

Source: US Census Bureau

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Seasonally adjusted retail and food services sales for March were $665.7 billion, reflecting an increase of 0.5% from February and 12.9% higher than March 2021. This follows the 0.8% growth in February when total sales stood at $662.4 billion.

Retail trade sales reflected a 0.4% increase from the previous month and 5.5% growth from the same month in 2021, with gasoline stations up by 37.0% and food services and drinking places up 19.4% year on year.

The biggest increase was recorded in general merchandise, followed by sales excluding auto. The only contraction for the month was recorded in auto sales.

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