March retail sales in the United States beat expectations

The burn of inflation in the US is still impacting many shoppers but benefiting warehouse-style stores as buyers look for relief, writes KPMG US Senior Economist.

United States consumers opened their wallets in March. Retail sales rose 0.7 percent, above the consensus expectation of 0.4 percent. February retail sales were revised upward to 0.9 percent from 0.6 percent. Although the March report contained a number of categories that fell, the categories that rose punched above their weight. Milder temperatures influenced the sales for certain items in opposing directions. Sales of motor vehicles and parts fell 0.7 percent in March. The weakness in...

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Authors: Kenneth Kim

Published Date: 16 April 2024