U.S. Retail Sales Fall for Second Month

  • 2/10/2023
  • 11:32
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Washington, Rajab 17, 1438, April 14, 2017, SPA -- U.S. retail sales fell for a second consecutive month in March amid softening demand for automobiles, the government reported Friday, suggesting economic growth slowed suddenly in the first quarter. The Commerce Department said retail sales fell 0.2 percent last month, following a revised 0.3 percent drop in February, the first and biggest decline in almost a year. However, compared to March 2015, retail sales were up 5.2 percent, indicating the economy remains healthy. Sales at auto dealers tumbled 1.5 percent last month, while overall sales of motor vehicles fell 1.2 percent, decreasing for a third consecutive month. Sales at gasoline stations fell 1 percent, reflecting lower fuel prices. Sales at building-material stores fell 1.5 percent, likely due to bad weather. There were some sales increases in the March retail report. Online retailers saw sales improve 0.6 percent last month and 11.9 percent during the last year. Sales at electronics and appliances stores surged 2.6 percent, the biggest gain in more than two years. Sales at clothing stores climbed 1 percent. --SPA 17:31 LOCAL TIME 14:31 GMT www.spa.gov.sa/w376812

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