Breaking: US Retail Sales plummet by 8.7% in March

Eren Sengezer FXStreet

Retail Sales in the United States declined by 8.7% on a monthly basis in March to $483.1 billion following February's fall of 0.4%, the data published by the US Census Bureau revealed on Wednesday. This reading came in slightly worse than the market expectation of -8%.

Further details of the publication revealed that Retail Sales Excluding Autos decreased by 4.5% to beat analysts' estimate of -4.8%.

"Total sales for the January 2020 through March 2020 period were up 1.1% from the same period a year ago," the press release read. "Retail trade sales were down 6.2% from February 2020, and 3.8% below last year."

Market reaction

The US Dollar Index extended its daily rally after these figures and was last seen adding 1% on the day at 99.85.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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