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Financial News: U.S. Retail Sales Spike Much More Than Expected

U.S. Retail Sales Spike Much More Than Expected In March

04/15/2021 - 08:39:00 (RTTNews)

(RTTNews) - Retail sales in the U.S. spiked by much more than expected in the month of March, according to a report released by the Commerce Department on Thursday.

The Commerce Department said retail sales skyrocketed by 9.8 percent in March after tumbling by a revised 2.7 percent in February.

Economists had expected retail sales to surge up by 5.9 percent compared to the 3.0 percent slump originally reported for the previous month.

Excluding sales by motor vehicle and parts dealers, retail sales soared by 8.4 percent in March after plunging by a revised 2.5 percent in February. Ex-auto sales were expected to jump by 5.0 percent.

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