Consumers were busy in March after weaker-than-expected spending in the prior month.
Retail sales rose 1% in March seasonally adjusted from February and 0.8% unadjusted year-over-year, according to the National Retail Federation. The NRF numbers, which exclude automobile dealers, gasoline stations and restaurants, are based on data from the U.S. Census Bureau, which said that overall March sales were up 1.6% seasonally adjusted from February and up 3.6% unadjusted year-over-year. That was the biggest increase since September 2017 and followed an unrevised 0.2% drop in February. . . . more