Breaking: US Retail Sales decline by 1% in March vs. -0.4% expected
The data published by the US Census Bureau revealed on Friday that Retail Sales in the United States declined 1% on a monthly basis in March to $691.7 billion. This reading followed February's contraction of 0.2% (revised from -0.4%) came in worse than the market expectation for a decrease of 0.4%.
Retail Sales Ex-Autos fell by 0.8% in the same period, compared to analysts' estimate of -0.3%.
"Retail trade sales were down 1.2% from February 2023, but up 1.5% above last year," the publication further read. "Nonstore retailers were up 12.3% from last year, while food services and drinking places were up 13.0% from March 2022."
Market reaction
Following a quick decline with the immediate market reaction, the US Dollar Index reversed its direction and was last seen rising 0.15% on the day at 101.15.
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