US retail sales slightly fall in March

According to the US Commerce Department, overall retail sales in the US slightly decreased by 0.2% in March on a monthly basis after a revised drop of 0.3% in February. The decrease matched the market expectations which called for a drop of 0.1%. On a yearly basis, however, the retail sales were up by 5.2% in March

The fall in the country’s retail sales in March was driven by respective decreases of 1.2% , 1.5% and 1% in sales of motor vehicles and parts, construction materials and gasoline stations. Excluding auto sales, retail sales in March was flat.

The data also showed that retail sales in the first quarter of 2017 increased by 5.4% on a yearly basis.